The group is already present in Romania and has now contracted EUR 15 million for 2 years through its subsidiary, Novaservis Ferro Group, which operates production units in Poland and the Czech Republic, in order to expand. The funds will be used for the new 11,000 sqm logistics center that will open in Bucharest and will serve both the Romanian market and the Republic of Moldova and countries in the southeastern Europe region.
"We are pleased to finance the development of a dynamic company with significant plans for the future, which aims to transform Romania into a regional hub for its own business," said Maria Rousseva, deputy CEO of BRD and coordinator of corporate banking activities, cited by Economedia.ro
"For us, the opening of the new logistics hub in Bucharest represents an important and necessary step in the increasingly accelerated development of the Ferro brand, both in the Romanian market and in other markets in Eastern and Southern Europe. In addition to its role as a warehouse from which Ferro products will be delivered to partners, the logistics hub will also serve as a service and training center for partners, installers, designers, architects, and other professionals in the field of sanitary and heating installations," said Dan Ionuțaș, Export Director of Ferro Group.
The new hub will allow for the adaptation of the product range to the local market and will lead to reduced delivery times.
Starting in 2024, one-third of Ferro Group's deliveries will transit through the hub in Romania.
