An Italian company is investing eight million Euros in a factory of thermal insulation panels in Iaşi

The Italian company Lattonedil has begun an eight million Euros investment in a thermal insulation panel factory in the county of Iaşi, commune of Bălţaţi, the delay of execution of the production warehouse being August 2009, according to information provided by the company officials. "Production will effectively begin in December 2009. The capacity is two million square meters of panels per year. We are no working on the structure project, and in December we will begin the construction. It is the first factory of the kind in Romania of the group Lattonedil. 60% of the production will be exported in Ukraine, Republic of Moldova and Russia. In total, 100 jobs will be created, of which 30 will be in the factory itself", stated on Tuesday, for NewsIn, the General Director of Lattonedil România, Cătălin Urtoi. According to Mr. Urtoi, in the beginning, the factory will have just one production line, the intention of the Italian group of companies being to extend its activity in the second half of 2010, while the number of employees is expected to double. The factory will be built on a total area of 6,2 hectares, on a plot purchased by the Italian company from a natural person of the City of Bălţaţi.

"After its completion, it will be the greatest private investment in the commune. We might enter into an agreement with the company, meaning that we would provide them with some tax incentives, within the limits of the law and we would suggest to them that the workforce come from our commune ", stated Vasile Aştefanei, the mayor of Bălţaţi, on the phone.

The investment of the Italians attracted a major interest from the people of Iaşi, with more than 400 people having already applied for a job in the new company, even as Lattonedil RO has only released one vacancy, specifically a position of sales representative for the Italian group in Romania. According to the general manager, since May 2008, when the company was incorporated, the sales in Romania were more than two million Euros.

The Italian group Lattonedil had a turnover of over 100 million Euros in 2007, having 300 employees in three factories, all of them located in Italy. The company exports its products primarily in Europe and Northern Africa. In Romania, there are 11 more factories operating within the same field of activity, which are located in Bucharest, Timişoara and Bistriţa Năsăud .