Arges County is like a magnet for investors, Turkey-based Yildiz Entegre just announced that will open this year-end a woodworking factory in Oarja village near Pitesti, following an EUR 150 million investment. Of the total, EUR 7 million will be invested in buying technology for the environmental protection, this being a strategic concern of the Turkish company.
According to the local authorities, the new Yildiz Entegre factory is the biggest investment in Arges this year.
The new factory will produce MDF boards and laminated MDF usable in the furniture industry, as well as laminate flooring, doors and impregnated décor paper. According to Yildiz Entegre officials, the investment in Romania aims to be a hub for the commercial activity that the company plans to expand across the EU member countries.
By the end of the year, Yildiz Entegre hopes to start the production in the Oarja factory, from where about 80 percent will be exported.
“Romania has welcomed us with open arms and we want to prove, based on our 125 years experience, that we are not a Turkish capital company that just grows its business here and then leaves. Romania is a place we will not leave anymore. Moreover, I can say that we regretted that we did not come earlier to invest here,” Ismail Hakki Yildiz, CEO Yildiz Entegre stated Thursday in a press conference in Pitesti, regarding the start of the construction works of the factory.
He pointed out that the woodworking plant is a state-of-the-art unit, built on an area of 460,000 sqm of which 76,000 sqm is the main building of the factory.
For the production process, Yildiz Entegre will purchase approximately 800,000 m3 of wood annually from Romsilva – out of a total of 18 million m3 – and from private suppliers, ensuring the total transparency of the procurement process. Turkish investors emphasized that Romania will not cut any tree for Yildiz Entegre. The company will use only the wood production intended as raw material.
“This investment in Romania is very important to our company because we intend to continue to strengthen our position on the local and regional market. We will involve in the development of projects that will bring a substantial contribution to the local and state budget, as well as in social projects. For the beginning, it’s about building a day center for children aged between 0- 3 yo in Oarja,” Mustafa Korkmaz, General Manager of Yildiz Entegre Romania said.
Currently, 120-130 persons are working at the Yildiz Entegre plant in Oarja. The company will employ 450 people by the end of this year, most of which are engineers and skilled workers. 50 of them benefited already from specialized training in the Turkish company’s factories, and the employees training will continue as the specialists team completes.
The investment in Oarja is just the first step of the projects that Yildiz Entegre intends to develop in Romania. According to Ismail Hakki Yildiz, the company he represents plans to invest in another two segments on domestic market, avoiding giving details.
However, Yildiz Entegre officials are very excited about their investment in Arges County.
“We chose Pitesti because of its strategic location, in the heart of the country. We are now one of you. I have many dreams that I have built in Romania,” Ismail Hakki, representing the fourth generation of the Yildiz family said.
Attending the event, Osman Koray Ertaş, Turkish Ambassador to Romania said Turkey is Romania’s largest trading partner at the moment, with trade of EUR 10 billion, while Turkish investments in Romania exceed EUR 6 billion. Moreover, out of the companies registered in Arges County, 111 are of Turkish origin.
Yildiz Entegre Turkey is the flagship company of the Yildizlar Yatirim Holding Group, whose turnover exceeds EUR 800 million and ranks 38th among the top 500 industrial companies in Turkey.