Intracom to relocate entire production to Romania

Greek Intracom company, one the leading manufacturers of telecommunications equipment in the Balkans, will entirely relocate its production operations to its subsidiary in Romania, Intrarom. The company, which had already transferred 50% of its manufacturing operations to Romania, had also considered Bulgaria and Ukraine, countries where it has a presence, as well. The decision to relocate was announced in the Greek press by the officials of the Russian Sistema group, which is to complete the takeover of 51% in Intracom over the next few weeks. Intrarom now has over 500 employees and a total industrial space of 30,000 square metres on the Pipera industrial site in Bucharest, according to the company officials who anticipate 62.9 million euros in turnover for 2006 compared with 34 million euros in 2005. “Additional investments are to be made in the development of new products that will create jobs based on a three-year development plan that is being devised together by Intracom and Sistema, “Magda Mischie, Intrarom communication manager told ZIARUL FINANCIAR. She did not care to reveal the exact investment to be made as a result of the production relocation, but said that more than 30 million euros had been invested in infrastructure and personnel training since the establishment of Intrarom in 1993. ZF