Deloitte and Reff assisted Haier Tech in the EUR 53 million project for a household appliances factory in Prahova

Deloitte Romania and Reff & Associates, the law firm representing Deloitte Legal global network in Romania, provided assistance to Haier Tech, a Romanian company belonging to the Haier Group, in the project for building in Prahova county the first Haier’s refrigeration factory in the European Union. After assisting Haier Tech in obtaining the financing agreement for state aid in December 2019, Deloitte’s Management Consulting practice is now advising Haier Tech in the implementation of the large investment project that exceeds EUR 53 million, for which the state will provide aid of EUR 25 million.

Reff & Associates| Deloitte Legal’s team specialized in real estate provided legal assistance for negotiating and signing the contract for the construction of the refrigerators and other household appliances factory in in Aricestii Rahtivani village, Prahova county. The 57,500 unfolded square meters factory will be built by the construction group Baupartner and will require an investment of over EUR 21 million. The works should be finalized and the project should be operational in spring 2021.

Reff & Associates| Deloitte Legal also assisted Haier Tech in the acquisition of 100,000 square meters land on which the factory will be built, located in Allianso Industrial Park, one of the largest industrial parks in the country.

“We do appreciate our partners’ efforts and valuable support on this very ambitious project. We have all been working very hard to build what will look like a strategic pillar in the leadership’s consolidation path of Haier in the refrigeration segment worldwide and in the execution of Haier Europe’s vision to become the first consumer choice in smart home in Europe,” said Alessia Ianni, Cooling Technical Operation Director at Haier Europe and Managing Director at Haier Tech.

Deloitte’s Management Consulting team involved in the project was coordinated by Cristina Cojocaru, Senior Manager, while the Reff & Associates | Deloitte Legal team was comprised of Larisa Popoviciu, Managing Associate, and Maria Nitulescu, Senior Associate.

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Deloitte Romania is one of the key providers of advisory in alternative financing such as state aid and structural funds.

For over a decade, Reff & Associates | Deloitte Legal has been recognized as a leading Romanian law firm in real estate and construction advice, having been involved in the largest real estate transactions and development projects, often involving complex corporate structures and cross-border finance. The specialized team is recognized by international independent rankings such as Legal 500, which classifies this practice as first tier in its field.