Swiss company Alu Menziken is set to receive state aid worth RON 88 million (around EUR 20 million) for its planned investment in an aluminum components plant located in the village of Mediesu Aurit, Satu Mare county, in northern Romania, local Ziarul Financiar reports.

The plant, which is set to produce components for the aeronautical and automotive industries, requires a RON 200 million (EUR 44.5 million) investment. The state aid was approved this past December and the manufacturer has committed to creating 244 jobs.

Alu Menziken is part of the Montana Tech Components AG group, which also includes Universal Alloy Corporation, already present in Romania. Universal Alloy Corporation has its European headquarters in Dumbravita, Maramures. The Maramures plant exports aluminum parts to companies such as Airbus, Boeing and Bombardier. It had a RON 203 million (EUR 45 million) turnover and 840 employees in 2015.

The European Bank for Reconstruction and Development (EBRD) granted last year a EUR 25 million loan to Universal Alloy Corporation Europe (UACE).

editor@romania-insider.com