The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13.2 - Weaving of textiles
200 jobs Number of planned job creations
Announcement Date
26 May 2005
Employment effect (start)
1 September 2005
Foreseen end date
Description
The Romanian Agency for Foreign Investments (Agenţia Română pentru Investiţii Străine, ARIS) announced that the Belgian group UCO Textiles was investing around €15 million in a brownfield-type project, developed in a building belonging to Giurgiu industrial park (Sud region).
The investment will take the form of a factory producing denim-type fabrics for jeans. Production is set to begin in September 2005, followed by a gradual extension of production capacity.In the first stage 200 jobs will be created
The UCO Textiles Group specializes in completely-processed materials, from the initial phase (cotton) to the end-product (finished fabric). Worldwide, the group has two production units in Belgium and two in the United States with a production capacity of 26 million metres of fabric between them.
The factory in Giurgiu is the first to be opened by UCO Textiles in Eastern Europe.
Sources
26 May 2005: Ziarul Financiar
27 May 2005: Economistul
Citation
Eurofound (2005), UCO Textiles, Business expansion in Romania, factsheet number 61751, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61751.
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