The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
150 jobs Number of planned job creations
Announcement Date
6 October 2006
Employment effect (start)
1 January 2007
Foreseen end date
Description
Technophar Equipment and Service, the Canadian company owned by businessman Herman Victorov, a Romanian-born Canadian citizen, announced its intention to invest about USD 36 million (EUR 28.2 million) to construct a new production facility for machines manufacturing pharmaceutical capsules. Technophar is specialised in the design, development and manufacture of hard gelatin capsule machines and soft gelatin encapsulation machines. The end products, the hard and soft gelatin capsules, are used for pharmaceuticals, nutritional and cosmetics.
Technophar entered the Romanian market in 1991 and has two production plants, one in Odorheiu Secuiesc (Harghita County) and one in Cornu (Prahova County). The third plant will be opened in Chitila, near Bucharest.
The firm has invested USD 24 million (over EUR 19 million) in its two production plants so far and employs currently 190 people in Romania. In 2005 the companyÂ’s turnover in Romania was about USD 8 million (EUR 6.25 million). According to Herman Victorov, the companyÂ’s chairman, the initial investments in the new plant in Chitila will amount to USD 16 million (EUR 12.5 million) and will be increased to USD 36 million in a subsequent phase. The facility will become operational in the first quarter of the next year and will employ some 90 people at the beginning. After completion of the plantÂ’s construction another 60 new jobs will be created.
Sources
9 October 2006: Ziarul Financiar
Citation
Eurofound (2006), Technophar Equipment and Service, Business expansion in Romania, factsheet number 64229, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64229.
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