Flavus Investiţii invested 400,000 Euros in setting up the office of Waters Romania

• With the coming of this company, the platform of Tractorul Braşov now hosts six companies

Flavus Investiţii SRL has invested 400,000 Euros in an office space for Waters Romania, which yesterday inaugurated its new headquarters at Coresi Business Park. Waters Romania was set up in 1999 with the name of Creon, being a subsidiary of the eponymous German group. In 2003, Waters paid 16 million dollars to acquire Creon Lab Control of din Cologne, Germany, with the subsidiary of Braşov changing its name as well.

The company rented a space of over 1,000 square meters in Coresi Business Park, with 88 employees working in that location. Waters Romania is part of the R&D division of Waters Corporation. The company helps improve the efficiency of laboratories in the industries such as pharma, environment, life science, agriculture etc. In June 2011 it launched "Waters regulated Bioanalisys System Solutions" - an efficient instrument for the processing, visualization and creation of reports for bio-analytical data.

Present in the event, Jeremy Batt, senior project director at Waters, expressed his extreme appreciation of the work of the subsidiary of Braşov, as well as the location selected for the new headquarters. Waters Corporation was founded in 1958 by Jim Waters in Massachusetts and currently employs over 5,400 people all over the world. Waters operates in 27 countries, and the company"s products are available in over 50 countries. The company"s turnover reached USD 1.64 billion at the end of last year.

• Negotiations with three more IT companies

The coming of Waters Romania to the new Coresi Business Park, raises the number of people working on the platform of the former Tractorul SA platform to about 1,000, employed by six major companies - IBM, CGS, Fresenius, Freudenberg, Raiffeisen Bank (which opened an operational center) and Waters. Florin Rebic, the executive director of Flavus Investiţii, said that negotiations are currently under way with three more important companies in the IT sector which would like to rent space in the Coresi Business Park. "We hope to conclude the contracts with these companies in Q3 2011", Rebic, added, who stressed that each of these companies is looking for office space with a surface ranging from 1,000 and 2,000 square meters.

• Five million Euros have been invested so far

Rebic added that so far, Flavus Investiţii has spent five million Euros in Coresi Business Park on the customized set up of each rented office. He has also announced that the development rate of this project will be 5,000 - 10,000 square meters per year, which will require investments of 2-4 million Euros a year. "Next year we may begin the investment in the retail part, and talks with Auchan on this matter are at an advanced stage. At the same time, we are also analyzing the residential market, and once it recovers we will also launch the residential projects that we have proposed for ourselves. At the moment, we have an ongoing investment of 2 million Euros in bringing utilities to the northern part of the platform, an investment which we will most likely complete in October", the quoted source said.

Four years ago, Flavus Investiţii bought the industrial platform of Tractorul SA by paying 77 million Euros plus VAT. The project of the company"s administrators, Silviu Savin and Victor Vadaneaux, included investments of more than 1.5 billion Euros over the next 20 years. Three years ago, the two have announced that they would clean up the entire surface of the approximately 124 hectares and would turn the approximately 124 hectares of the old tractor factory into a modern neighborhood called Coresi. This is intended to be the greatest urban regeneration project in SE Europe and involves the creation of several residential and office buildings and of several commercial centers. At the time, Savin announced that the project would include the development of over 6,000 apartments. The first module, which will include a mall, apartment and office buildings, will require investments of about 150 million Euros.

This neighborhood will also see the construction of a university campus, as the Transilvania University of Braşov announced it would move four of its colleges over there. Homes for students will also be built there. The owners of the platform are also having talks which are at an advanced stage with the authorities of Braşov, concerning the construction of a municipal hospital. Coresi will also include a hotel with a conference room of 700-800 seats. The project will be fully completed in 15 years. The 120 hectares of the former Tractorul plant represent 10% of the total surface of the city of Braşov.

Last month, directors Silviu Savin and Victor Vadaneaux were replaced, with them holding only consulting positions.