Lufkin Industries To Build New Manufacturing Facility in Romania
Lufkin Industries Inc. plans to construct a manufacturing facility near Ploiesti, Romania, just north of the capital, Bucharest. This facility will manufacture products for the company’s oilfield and power transmission divisions with an initial focus on oilfield products.
This facility is being built on an 82 arce site and will cost US$126 million. The facility will initially employ just over 300 employees when completed in 2012. The Government of Romania, through the Ministry of Public Finance, has agreed to provide Lufkin with economic development incentives and financial assistance of US$35.4 million (€28 million) towards the construction costs, or 30% of the plant cost.
For more information: www.lufkin.com