Lufkin to build its first plant in Romania

14/07/2010 08:00 Oil Market

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Lufkin, an American oilfield and power transmission products supplier, announced its intention to build a production plant near Romanian oil center, Ploiesti.

The plant will manufacture oilfield products, with the possibility to diversify in the future. The plant is estimated at $126 millions, costs that would be partly covered by Romanian government through incentives, employing over 300 persons when it starts operating. The plant is supposed to start producing in 2012. The strategically positioning of the plant will allow the company to expand its influence on Eastern Europe and Asian market.

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