In a speech to the opening ceremony, Modpak System CEO Valentin Malaescu said works on the new factory in the Ploesti Industrial Park started last November and led to doubling the production capacity of the company thanks to the new investment conducted from a seven-year bank loan.

‘With the factory in Ploiesti, we cover the entire southern Romania. We have here some 80 employees, or 80 per cent of the total workforce, deriving a business turnover that is some 80 per cent of the total turnover, so two million Euros from southern Romania alone. (…) Some 50 per cent of the business is conducted here, and the rest elsewhere in the country. We prepare subassemblies here and our teams go everywhere in the country using our own cars. (…) We are operating in Bulgaria, the Czech Republic and Italy. The main offices here will be a stepping stone to Europe and maybe the US,’ said Malaescu.

In the period immediately ahead, the company’s management will invest in retooling, a process that most likely will be completed on European funds, as well as in staff specialist training to boost their competitiveness.

The company, which started up in 2007, have working offices also in Cluj-Napoca, Brasov and the West Park of Ploiesti.

According to the CEO, the company’s business turnover stood at 20,000 Euros in the first year in business, having surged to 3 million Euros at the end of 2014. The company is currently employing 100 staff countrywide and has 200 customers. (Source: nineoclock.ro)