The local subsidiary of German pharma group Stada, Stada M&D, previously fully owned by the group’s Serbian subsidiary Hemofarm, has increased its capital by RON 40 mln (EUR 8 mln) to RO 55.65 mln following the cash contribution of Stada Arzneimittel Aktiengesellschaft (Stada AG).

The money will be used by the Romanian company to finance the construction of a new factory for the manufacture of pharmaceutical products in Turda, in Cluj county, according to a company’s decision quoted by Economica.net.

The investor received state aid for the project.

In January, Stada announced that it would invest EUR 48.3 mln in a new production facility that will be built in the Arieș Industrial Park in Turda, Cluj County. The greenfield project is partially supported by the Romanian Government through state aid, the company announced. The aid amounts to over EUR 20 mln, according to Ziarul Financiar.

(Photo: Pixabay)

andrei@romania-insider.com