Romanian paper producer Vrancart Adjud has launched an investment worth €10 million to increase the output capacity of its plant, according to Ionel-Marian Ciucioi, the firm’s chief executive.
Under the plan, the project is to be completed by April 2016, reports local business daily Ziarul Financiar.
Vrancart Adjud says it is one of the most important producers of corrugated cardboard, paperboard and tissue papers in Romania, with more than 37 years of activity in this sector. The manufacturer is based in Adjud, in Romania's eastern part, where Vrancart Adjud also operates its production facility.
The chief executive said that the investment is expected to significantly increase the company's revenues and profit in the years 2016 to 2019. This year, due to the ongoing investment and related organisational efforts, the firm is expecting to post lower revenues than in 2014.
