Romanian PU and PIR sandwich panel maker Topanel is planning to invest €9m in a new production facility in the southern city of Ramnicu Valcea.
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Topanel to invest €9m in new plant
The plant, at approximately 8,000 square metres, will be smaller than the company’s current factory, but will have a higher production capacity, according to Topanel President Sorin Boureanu.
The European Union could fund about 65 per cent of the project, with the balance coming from the Romanian manufacturer.
Speaking to Romanian daily newspaper Ziarul Financiar, Boureanu said: “We have already prepared the project, and now we only have to submit it to the [EU] funds.”
If the company’s funding bid is successful, this would mark its second project carried out with the use of EU funding. Topanel had previously received a €1.4m grant, increasing production capacity in Ramnicu Valcea.
In 2018, the Romanian business produced about 2.5 million square metres in panels. This year, the company is aiming to further increase output to approximately three million, according Boureanu. The business reported sales of around €38m in the same year.
Ramnicu Valcea is located about 174km north west of Bucharest.