Premium Aerotech Announces 90 Mio EUR In Brasov

• The factory will create approximately 700 jobs to produce parts for Airbus

Ovidiu Vrânceanu, Braşov

Prime Minister Emil Boc has announced a 90 million EUR greenfield investment to be implemented in Brasov. The future factory will create approximately 700 jobs and produce parts for Airbus. "Premium Aerotech, a member of the EADS group, has received the approval and has the support of the Government to build a factory in Brasov to produce parts for Airbus. The investment amounts to 90 million EUR and will create 700 jobs," Premier Boc announced.

In order for the investment to be supported by the Romanian State, the Government on Wednesday endorsed the legal framework for issuing a form of State aid. Specifically, the Government will issue 5 million EUR in State aid for an investment of at least 30 million EUR that creates at least 300 jobs.

"Premium Aerotech can ask the Government for such State aid if these two conditions are met," he added. Both Prime Minister Emil Boc and Economy Minister Adriean Videanu described the investment as highly important. "Reindustrializing Romania is one of the Government"s priorities. The Aerotech investment is highly important for two reasons: it will create 700 jobs and it will be based on very advanced technology. Such investment bring along side investments and thus trigger a multiplication effect in the economy," said Economy Minister Adriean Videanu. The new factory will be built in Ghimbav, Brasov County, near IAR.

• IAR secures orders for another 10 years

The Government has decided to renew the contract between IAR Ghimbav and Eurocopter for another 10 years. While in Brasov, Prime Minister Emil Boc announced that, in addition to the renewed contract, the facility in Ghimbav would set up a maintenance centre for Puma and Super Puma helicopters. "By making this investment, we are certain that we save jobs and help the horizontal development of other industrial functions. This is evidence that our commitment to the industrial development of Romania and of Brasov in particular is real," Premier Boc said.

The announcement came as a breath of air for the troubled IAR Ghimbav. Barely two weeks ago, the shareholders approved the reorganization plan and thus authorized the cut of 303 jobs by the end of July. The respective employees have already received notice. "If the company does not miraculously recover by such time" - the management of IAR Ghimbav announced at that time - "another 350 employees will be laid off next Spring."