Social

Pfizer expanding production assets in Romania

The cheap labor force was one of the main reasons behind Pfizer’s decision to invest in its packaging assets in Romania, the cost of the labor force being a third of that in the states the products come from, Nolan Townsend, Country Manager Pfizer Romania, stated. He added that the American company plans to expand its production capacity, namely the packaging of products, in Romania. “If we look at the average cost of the labor force, it represents a third of the cost of the labor force in the countries from where we are bringing the products. And the predictability of the business environment is very important. An investment in production is a long-term investment so you have to be sure the industry is predictable and it will be a priority for the state. If you look at the costs, Romania is convincing, but things are not as good when it comes to predictability,” Townsend stated.
America’s Pfizer recently announced investments of USD 5.4 M in the assembly line of the Ferrosan food supplements plant it owns in Cluj-Napoca and will transfer products from Denmark and Italy there.
According to Townsend, 90 per cent of the products in Cluj are exported, mainly to Russia, Asia and the Middle East, but also within the EU.
Pfizer’s investments also focus on expanding the storage space for raw materials, packaging materials and finished products. It is estimated that the constructions works will be finished next March and the investment totals USD 5.4 M.
In 2011 Pfizer bought from the Altor Fund the Danish company Ferrosan Consumer Healthcare, which was present in Romania through a production unit for food supplements and had distribution activities in Cluj.
American producer Pfizer is fifth on the Romanian pharmaceutical drugs market, with a market share of 5.1 per cent at the end of the second quarter, according to Cegedim.

Related posts

Code Red extreme heat in west, southwest 12 counties over weekend; Code Orange for rest of country

Nine O' Clock

Extensive searches in credit card fraud case

Air traffic controllers’ strike

Nine O' Clock

Leave a Comment