BUCHAREST, Romania (AP) -- Consumer goods company Procter & Gamble Co. on Wednesday opened a plant in southern Romania that will produce shampoo and hair care products for sale in the growing markets of Eastern Europe.
The factory at Urlati, some 70 kilometers (44 miles) northeast of Bucharest, has created 250 jobs after an investment of $100 million (euro73.5 million), the company said in a statement.
The products will be exported to Turkey, Russia, Ukraine, among other countries in the region, P&G said.
The investment is good news for Romania which is mired in a deep recession, with the economy expected to contract by more than one percent this year, after a decline of 7.1 percent in 2009.
Romanian President Traian Basescu attended the opening, as did P&G's chairman, president and chief executive, Bob A. McDonald, as well as U.S. diplomats.
The factory at Urlati, some 70 kilometers (44 miles) northeast of Bucharest, has created 250 jobs after an investment of $100 million (euro73.5 million), the company said in a statement.
The products will be exported to Turkey, Russia, Ukraine, among other countries in the region, P&G said.
The investment is good news for Romania which is mired in a deep recession, with the economy expected to contract by more than one percent this year, after a decline of 7.1 percent in 2009.
Romanian President Traian Basescu attended the opening, as did P&G's chairman, president and chief executive, Bob A. McDonald, as well as U.S. diplomats.
