Law firm Salans has advised Lufkin Industries Inc. on state aid incentives worth EUR 28.1 million for developing a greenfield manufacturing plant in Ploiesti worth USD 126 million. The plant will produce and service pumping units for oil extraction.
“We are happy to have assisted Lufkin take this important step in Romania, particularly as this is going to be the company’s first facility in Eastern Europe. This will send a positive signal to the market and we truly hope the project will trigger other investments in the area”, said Christopher Berlew, managing partner with Salans Bucharest, who oversaw the transaction.
Salans’ team of advisors included Nicoleta Mihalache, Cosmin Bonea and Amalia Lincaru.
Earlier this year the law firm has also advised Lufkin on acquiring a 33-hectare plot for the company’s planned manufacturing plant. The real estate team was made up of Laura Tiuca, managing counsel and co-head of Salans Bucharest’s real estate team, associate Raluca Radu and counsel Stewart Middleman, and was overseen by Christopher Berlew.