Nokia and Ericsson supplier invests 24m euros in Oradea plant

Italy’s Faist Mekatronic, a supplier of parts for telecom infrastructure and automotive industry, is set to complete investments of around 24m euros in a plant located in Eurobusiness Oradea industrial park this summer, with the investments likely to triple the current production capacity of Italian group.

“Our intention is to start production in the new plant in the second half of this year. We will continue to manufacture parts for telecom infrastructure and the automotive industry, but our intention is to expand current production capacities three times,” stated Remus Cotuț, Faist Mekatronic plant manager.

The company, the domestic subsidiary of Faist Italian group, entered the Romanian market in 2005, having as its core business the production of telecom infrastructure parts, being also one of the suppliers of Nokia Siemens Network and Ericsson Network giants.

According to the company’s representatives, investments in the new 15,500 square metre production facility are financed by Faist group and co-financed by one of Romania’s banks. They did not disclose the name of the funding bank, though.

At present, the company operates in a production facility with an area of around 8,000 square metres that it shares with Faist Metalworking.