The German company BauTex has invested 16 million euros in the construction of a factory in Moldova for the production of fabrics and fiberglass products, which will open in September 2022.
According to the administration of the Balti FEZ, of which BauTex has become a resident, after the official opening of the plant, the investor plans to ensure annual sales of 50 million euros and create about 300 new jobs. Recall that BauTex Composites, a company created by an investor in Moldova, signed an agreement with the Balti FEZ on December 2 and became a resident of the Straseni subzone. At the plant in Moldova, BauTex Composites plans to produce in 6 areas: Ortex fiberglass (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 sanitation of pipelines); polyfans (abrasive grinding wheels for grinders); composite reinforcement (non-metallic rods made of glass fibers); warping section (working out of fiberglass warps for the production of industrial materials). BauTex is a world renowned manufacturer of technical fabrics used to reinforce roofs, yachts, cars, windmill blades and road surfaces. The company is based in Germany and already has a factory in Poland. The group of companies produces more than 120 million sq. m. of fabrics per year, and its annual turnover exceeds 75 million euros. Created in 1964, the BauTex brand occupies a leading position in the market for fiberglass-based products, including exporting to Europe, China, and the USA. Balti FEZ was established in March 2010 and today is the largest FEZ in the country. At the beginning of 2022, about 80 residents worked in this FEZ, whose total investment amounted to $249.5 million (49.3% of the total investment attracted to the FEZ). It has created more than 10.2 thousand jobs, which is almost 65% of all jobs provided by residents of the Moldovan FEZ. FEZ "Balti" includes 19 sub-zones: 3 - in Balti, the rest - throughout the country. // 26.08.2022 — InfoMarket.
