EMCC European Monitoring Centre on Change

Arctic

Company/Organisation:
Arctic

Geographic Location

Country: Romania
Region: Dambovita; Sud
Location of affected unit(s): Ulmi

Company

Sector: Manufacturing
Manufacture of electrical equipment
27.51 - Manufacture of electric domestic appliances

Employment Effects

Announcement Date: 20-12-2018
Type of Restructuring: Business expansion
Employment Effect Start: 01-01-2019
Foreseen End Date: 31-12-2019
Planned Job Creation: 1400

Additional Information

Manufacturer of electric domestic appliances Arctic has announced plans to create at least 1,400 new jobs in 2019 as a result of a business expansion at Ulmi (Dambovita County). The construction of the new facility started in 2017 and it will end by June 2019.  The plant is expected to produce about 2.2 million washing machines annually. The company received a loan amounting to €68 million from the European Investment Bank (EIB) and 330,000 euro from the Romanian state aid scheme for foreign investments. The total cost of the investment is about €100 million.

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