Japanese company to launch two-million euro investment project in northern Moldova

The SUMIDA Japanese corporation has decided to launch an investment project in Moldova's northern municipality Balti, the Economics Ministry’s information and media communication service has reported.

The two-million euro investment project will be carried out via a sub-contractor of the joint enterprise Elektromanufakturing Ltd, which will produce in Moldova electromagnetic transformers for home appliances, in particular Bosch and Philips TV sets and sound-broadcasting devices.

Initially it is planned to build a 600-employee factory in the free economic zone Balti.

Created in 1956 and having a 52-billion yen global turnover in 2011 (about 58 billion dollars), the SUMIDA corporation is enlisted in the Tokyo stock exchange and has factories in Japan, China, Mexico, Vietnam, Thailand, Germany, Romania and Slovenia.

Adapted from Moldpres