A company that produces bicycles for Decathlon has invested €30 million in a new production unit.
The Sport Mechanical Workshop, located in Timisoara, Romania, will also assemble bicycles, with 750 employees. The investors behind this project are Francesco Russo, Vittorio Olagnero and Laszlo Nyaradi.
“The entrepreneurs have the land and if everything goes according to plan in March, the construction of the new plant will begin,” said Vincenzo Moderno, executive vice president of the Romanian-Italian Chamber of Commerce, speaking to Ziarul Financiar.
He said it represents the interests of Italian businessmen in Romania, including the those involved in this investment. The new plant will involve an investment of €30 million, money from bank loans and shareholders own funds.
The production hall will measure 23,000 square metres and there will be 1.5 million bicycles per year, making it the “largest production unit in Eastern Europe”.