Austrian wiring manufacturer to expand investments in Moldova

Chisinau, 30 May /MOLDPRES/- Gebauer & Griller (GG) Austria-based company plans on extending its investments in Moldova and building a wiring-producing factory in Balti Free Economic Zone. A statement to this effect was made by the company’s managing director, Eva Schinkinger, during a meeting with Deputy Prime Minister, Economics Minister Octavian Calmic today. 

According to GG's representative, Moldova is a favorite candidate in the enlargement project, which is to be approved by the company’s board in June 2016. This is because GG is satisfied with the investment in Moldova and its results, as well as conditions Moldovan authorities offer to foreign investors.

Schinkinger said GG aims to invest more than 10 million euros to build a wiring-producing factory in Moldova, which will be fully put into operation in 2018 and will create more than 400 new jobs in the first stage, as they will grow up to 800 later on.

For his part, Calmic welcomed GG’s intentions to expand its activity in Moldova, emphasizing that drawing direct foreign investments and creating favorable conditions for the business environment are some of the government’s priority goals.

The deputy prime minister assured GG of the government’s support for its efforts, touching upon more actions it had taken to improve the business environment. In this sense, the government removed administrative constraints, such as the high number of permissive documents and authorizations. It has also granted facilities, inclusively the VAT refund for long-term investments and also exemption from VAT and customs taxes for the assets that will be included in the company’s social capital.

The Gebauer & Griller wiring producer for the automotive industry, high-speed trains, telecommunications and others, has launched its activity in Moldova in 2013. In 2015, the company registered a business turnover of 50 million euros. With its headquarters in Austria, Gebauer & Griller has a famous reputation of more than 70 years on the international market of industrial wiring, being one of the biggest producers of wires as well as copper, aluminum and steel fibers for the automotive industry and enhance-capacity lifts. Currently, the company has over 3,200 employees and its annual business turnover exceeds 425 million euros.

(Reporter A. Mardare, Editor L. Alcaza)