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Turkish investor seeks to build washing machine plant in Romania

By Anca Bernovici
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Turkish Arcelik Group, owner of Arctic Gaesti, the biggest local manufacturer of home appliances and the third-largest European player in the filed, wants to build a factory of washing machines in Romania, the project requiring investments of EUR 105 million, no VAT.

Called “Washing machine – a new Arctic factory”, the project will be discussed by the company’s shareholders at a meeting scheduled for mid-February, local media informs.

The investment approval is conditioned by getting a state aid amounting to EUR 37.5 million, through the aid scheme initiated by GD 807/2014.

Arctic will support the investment by allocating the profit which remained undistributed from previous years (until 2014 inclusive), amounting to RON 315 million (EUR 70 million).

With over 3,000 employees, Arctic recorded a net profit of RON 571.7 million during 2009-2014, according to Ministry of Finance data.

The last big investment of the Turkish group at Gaesti was made in 2013, when Arcelik Group inaugurated a new production line at home appliance producer Arctic of EUR 24 million.

Arcelik owns in Romania three powerful brands – Arctic, Beko and Grundig.

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Anca Bernovici

Anca Bernovici

I started my way in life with the intention to pursue a teaching career. But, after graduating from the Faculty of Letters – the University of Bucharest in 2004, my first job as a reporter at one of the leading newspapers in Romania changed my perspective. I have specialized in communication and communication campaigns, following the Master's courses at the Faculty of Journalism and Communication Studies (FJSC), attending a BBC Communications scholarship.
I’ve represented several important publications in Romania as business journalist, being accredited in the finance and banking field. In 2015, I had the opportunity to interview the International Monetary Fund (IMF) Mission Chief for Romania, Andrea Schaechter. As business journalist, I also had the opportunity to interview ministers for Economics and Commercial
Affairs offices within different embassies in Romania or officials of large companies investing on the domestic market.
After almost 15 years of journalism, I still want to explore new ways, to inform and stay updated. That’s why The Romania Journal project fits me so well.
Today I describe myself as a passionate about the history of world culture, having a PhD in Hebrew Culture and Civilization, after a scholarship at the University of Haifa International School, as a language addict, an environmental activist, pet lover and traveler.

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