Groupe Atlantic Romania, the local subsidiary of the leading global HVAC group headquartered in France, has received so far RON 127 million (EUR 25 million) capital injection from the parent company to support the development of the planned EUR 60 million investment in a water heaters (boilers) production facility announced last December, Economica.net announced.

Economica.net reports now about an EUR 8.75 million factory employing 158 that seems to be one of the (probably two) production facilities envisaged by the French group when announcing the EUR 60 million (370 employees) target for the projects developed in the PWP Bucharest North industrial park, Prahova county.

In November 2023, the Romanian subsidiary obtained EUR 5.25 million state aid to develop a production unit dedicated to manufacturing indirect coil boilers estimated to cost EUR 8.75 million, according to a decision of the sole shareholder consulted by Economica.net. The project envisages the creation of 158 workplaces.

The new site will receive an investment of EUR 60 million, money used to ensure the best working conditions, with 100% new equipment and machinery, the company announced in December.

With a total area of 145,000 sqm, of which 31,000 sqm is occupied by buildings, the new factory will produce 2 types of products: electrical water heaters and hot water cylinders for domestic use, under several of Groupe Atlantic’s brands. 

The production should start in the last quarter of 2024. By 2026, the team working at the location will reach 370 employees.

iulian@romania-insider.com

(Photo source: Dmitry Kalinovsky/Dreamstime.com)