Romanian bearings factory to make stainless steel jewelry
A Romanian factory which makes bearings will diversify its activity and product line by starting to manufacture jewelry made of stainless steel, which it plans to sell locally, in Turkey and in other European states.
Rulmenţi Barlad, which is part of the Turkish group URB, already has the needed steel and technology to make the jewelry. “This activity will allow us to keep and even create new jobs,” said Mustafa Tunca Dingiloglu, chief executive officer with URB, quoted by Agerpres. The company will not make any new investments to make the new products, but will sign a contract with a famous Romanian designer – yet unnamed – who will create models for the jewelry that will be made in Barlad.
The factory has 1,600 employees and is one of the largest companies in Eastern Romania. It plans to up its turnover by some 25%, to EUR 55 million, in 2015. Rulmenti Barlad has to axe some hundred workers in 2014 because of lack of demand for its products.
In other recent news, URB Group, was to put together a team of Romanian managers to lead the group’s new bearings factory currently being built in India. The management team and the qualified workers for the new Indian factory will be made of Romanians.
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