American oil and gas equipment producer Lufkin recently inaugurated its USD 140 million factory in Romania, near Ploiesti, where over 300 new jobs will be created. Most of the equipment produced in Romania will be exported to Russia, Central Asia, North Africa, Middle East and Eastern Asia.

The Romanian state provided a EUR 28 million state aid for the factory, for which construction work started back in 2010.

The Romanian factory will become a strategic hub for the Texas- based Lufkin, and the investment in Romania is among the highest made by company recently.

The factory will reach maximum capacity in October this year, and expects production to go full speed, non-stop, with three shifts a day. Lufkin chose the industrial park Ploiesti West Park to build its production unit.

Earlier this year, General Electric took over Lukfin for some USD 3.3 billion, and the deal is expected to be finalized in June.

editor@romania-insider.com