The German BauTex-Stoffe is investing over $18 million in the construction of a plant for the production of fabrics and fiberglass products in Moldova.
BauTex Composites, created by an investor in Moldova, signed an agreement on December 2 with the Balti Free Enterprise Zone (FEZ) and became a resident of the sub-zone in Straseni. In the next year, about $18 million will be invested in the construction and equipping of the plant with modern equipment. It is planned that in 2022 the enterprise will create 100 new jobs, and the sales volume in the first year of operation will be about $10 million sq. m. The representative of BauTex Composites Achim Lutter noted that the business plan of the company is designed for 7 years, and the company intends to subsequently expand it. The presented business plan of the company provides for an annual increase in the number of personnel and production volumes. The company is expected to employ more than 300 people by 2028, and the production volume will amount to about $80 million. Achim Lutter emphasized that BauTex Composites is the third enterprise of the BauTex group of companies outside Germany, but it will be the second largest in terms of the number of employees and production volumes. The largest enterprise of the BauTex-Stoffe group outside Germany was established in Russia (Gus-Khrustalny) in 2000, where 50 thousand sq. m of area employs about 800 people, the annual turnover is $60 million. Another company was created in 2011 in Poland, where 6 thousand square meters of production area employs 50 people, and the annual turnover is $12 million. At the plant in Moldova, BauTex Composites plans to manufacture in six directions: fiberglass ortex (reinforcing material used in the production of fiberglass products in shipbuilding, automotive, aviation, construction, etc.) ); complex fabric (used in the production of sleeves for the rehabilitation of pipelines); polyfans (abrasive grinding wheels for grinders); composite rebar (non-metallic glass fiber rods); warping section (production of glass fiber bases for the production of industrial materials). According to the administrator of the Balti FEZ, Marin Ciobanu, this investment is doubly unique for Moldova. “Firstly, there has never been such a high-tech production of fabrics and fiberglass products in our country. And this expands the range of goods produced in the country. Secondly, BauTex-Stoffe in foreign markets is a partner of well-known world brands, some of which have been residents of Balti FEZ for many years. This means that part of the products manufactured by the company will be supplied to our residents, reducing at least logistics costs for the participants in this production chain,” Ciobanu stressed. BauTex-stoffe manufactures an extensive range of flame retardant products that include a wide range of blackout fabrics, flame retardant decorative fabrics, upholstery fabrics and curtain fabrics. In the market for products based on fiberglass, the BauTex brand, created in 1964, occupies a stable leading position, including exporting to Europe, China, and the USA. The Balti Free Economic Zone was established in March 2010. During this time, 78 residents were registered here with total investments exceeding $222 million and 11.6 thousand jobs were created with an average salary of 9600 lei. The volume of industrial production is currently 6.9 billion lei per year, total sales - 7.1 billion lei per year. The Balti FEZ includes 19 sub-zones: three - in Balti, the rest - throughout the country. // 02.12.2021 – InfoMarket
