Thirty percent of these funds will be allocated to infrastructure, while the remainder will be invested in technology, he added. “Funds for such projects within P&G come from the U.S.-based mother company. Procter&Gamble does not borrow money from the country in which it makes investments. Furthermore, if you are wondering whether funds allocated to the construction of this factory have been impacted by the current economic crisis, the answer is: there is no impact,” Viaene added. He explained that funds for investments and projects in Europe were allocated separately, long ago.
Construction work on the Urlati factory started a month ago, is advancing according to schedule, and will be finalized by the end of the year, with the first stage of production to begin in the spring of 2010. A total €100 million will be invested in this factory, which is set to create some 350 jobs.
P&G has a 40 percent market share on the hair care products segment, 60 percent on the disposable products segment, and is leader on the detergent market. It already has a production unit in the western city of Timisoara, with 850 employees.
