The plant had belonged to the notorious businessman Gigi Becali, who bought it in 2004. In 2013, the company filed for insolvency and was auctioned by the Valcea Public Finance Department.

The factory will resume its activity this year and will hire between 400 and 800 people, said Alexandru Uta, the Stefanesti mayor.

Two other military production facilities exist in the Valcea county.

The Babeni arms factory has had financial problems for many years while the plant in Ramnicu Valcea now makes metallic structures. (source: Romania-insider.com)