“Romania, due to its stable economic situation and strategic geographic position, in close proximity to rapidly developing markets in Central and Eastern Europe, is an excellent location for investments. The Urlati factory is the first greenfield investment which P&G is carrying out in Romania and will supply European markets,” according to the company communique.
The plant will be built on a 25 hectare plot of land, providing space for future expansion of the production capacity, said company officials. P&G will hire some 300 employees in the first stage for its production unit.
Last year’s internal cosmetics market was worth some €700 million, and is expected to reach €1 billion in 2010, according to producers. Main competitors on this market are Procter&Gamble, Unilever, Henkel, L’Oreal and Colgate-Palmolive, as well as local producers, such as Farmec and Elmi Prodfarm.
Procter&Gamble came onto the Romanian market in 1994, and acquired a detergent factory in Timisoara a year later. Some 60 percent of the Timisoara factory production is exported.
