Italian electronic appliances producer De’ Longhi has signed an agreement with Nokia Corporation regarding the acquisition of the production unit in Jucu, Cluj, announced the Finnish company today confirming rumors on the media market.
The terms of the transaction, which still needs to be approved by the relevant authorities, have been kept confidential. The transaction is expected to be completed in the first quarter of this year.
De’Longhi will integrate the production unit as a key part of its international development strategy. The producer intends to adjust its manufacturing capabilities and diversify its production platform so as to balance the production in the far east with production in Europe. De’Longhi already has a production unit in Italy.
“During the evaluation of the interest towards the Nokia plant, we made efforts to find an important investor with clear plans of growth and create work places here in the near future. De’ Longhi was the ideal candidate from both points of view and we are very pleased that we managed to ensure a future for the plant so rapidly,” said Robert Andersson, Senior Vice President in Nokia.
De’ Longhi has a turnover of approximately EUR 1.4 billion and is listed at the Milano stock exchange.
Apart from De’Longhi, another name that circulated on the market was that of German company Bosch who was rumored also to be in advanced negotiations.
The German company expressed interest in making an investment in the Tetarom industrial park, close to the Nokia facilities, as previously stated by Alin Tise, president of the Cluj county council, for the media.
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