De’Longhi buys Nokia plant in Romania

NewsSouth-East European INDUSTRIAL Мarket - issue 3/2011

Italian electronic appliances producer De’ Longhi has signed an agreement with Nokia Corporation regarding the acquisition of the production unit in Jucu, Cluj.  The terms of the transaction, which still needs to be approved by the relevant authorities, have been kept confidential. The transaction is expected to be completed in the first quarter of this year.  De’Longhi will integrate the production unit as a key part of its international development strategy. The producer intends to adjust its manufacturing capabilities and diversify its production platform so as to balance the production in the far east with production in Europe. De’Longhi already has a production unit in Italy.  “During the evaluation of the interest towards the Nokia plant, we made efforts to find an important investor with clear plans of growth and create work places here in the near future. De’ Longhi was the ideal candidate from both points of view and we are very pleased that we managed to ensure a future for the plant so rapidly,” said Robert Andersson, Senior Vice President in Nokia.