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May 20 2014

Pressrelease: Long term business agreement between Romanian & Swedish companies

BUCHAREST – VISBY, 19th of May 2014

 

PRESSRELEASE

 

SWEDCHAM is pleased to announce another major success in bridging the businesses between Swedish and Romanian companies, and bridging the relations between the two countries closer to each other.

Habo Gummiprodukter AB  a well known company in the Swedish rubber market has reached a long term agreement with a large Romanian company, ARTEGO SA a well-known manufacturer in the same industrial segment of Romania and SWEDCHAM’s latest member.

ARTEGO is the biggest manufacturer of conveyor belts in ROMANIA and one of the largest producers of technical rubber goods in the world.

ARTEGOA SA has been a major supplier on the rubber market for over 40 years. The company was founded in 1973 on the northern industrial platform of Targu-Jiu city.

75% of the company’s shares are owned by the employees, more than 1200, of this industrial giant, the remaining 25% being owned by other shareholders.

Since the last quarter of 2013, an intensive program of creating a common work platform for the Swedish, Habo Gummiprodukter AB and ARTEGO SA has been initiated and resulted in a commercial agreement of providing the Swedish market with high quality rubber products manufactured and delivered by ARTEGO SA.

This will result in new opportunities in the region, creating new openings for subcontractors and vendors of services and products.

The newly formed relation will offer new job for Romanian workers and companies bringing new financial resources through tax incomes.

An expected business volume of up to 10% of ARTEGO’s yearly sales level, is expected to be achieved through the new relation between the two companies.

SWEDCHAM has been the initiator and provider of support to the agreement and is proud to add a new finalized project to the list of already successfully closed deals between Romanian and Swedish companies.

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