EUR 5 M EBRD loan to support expansion of Roquet in Romania

The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of Grupo Industrial Roquet, a Spanish producer of hydraulic components, with a EUR 5 million loan which will be used to co-finance the development of a greenfield plant in Romania, a press release informs. Grupo Industrial Roquet produces highly specialized foundries gear pumps, hydraulic cylinders, control valves and various components for hydraulic applications, serving industries like construction and agricultural mobile equipment, transport, logistic elements and machine tools in four factories in Spain. In order to meet rising demand for its products the company has decided to expand its production capacities by opening a new plant, near Ploiesti. Romania was chosen because of its competitive advantages. Construction of the greenfield plant is scheduled to start in April 2014 and production is planned to begin in 2015. In the Romanian factory, Roquet will produce larger diameter cylinders used in capital goods applications, mainly agriculture and constructions machinery

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