Noerr has advised Stada Arzneimittel Group Romanian subsidiary Stada Romania on its EUR 48.3 million investment in Aries Industrial Park in Turda.
The investment "aims at developing a new pharmaceutical production and packaging facility with a total area of approximately 30,000 square meters," Noerr informed. "The investment is scheduled to be completed in October 2024. It will generate 375 new jobs and will receive state aid with a total value of around EUR 21.5 million."
Aries Industrial Park is a 54.4 hectare industrial and logistic park with a zoning plan for industrial, storage, and logistic activities, as well as commercial, banking, offices and gas stations, and related activities.
Stada Group is a Germany-headquarter pharmaceuticals manufacturer, focusing on generics, specialty pharma, and non-prescription consumer healthcare products.
"We chose Turda because it is a town located in the heart of a region that is strategically important for the Stada Group," Stada Romania General Manager Mihai Fugarevici commented. "It is close to our testing laboratories and warehouse in Timisoara, Romania, as well as to the Stada production units in Serbia. The geographical location of the factory also provides fast transport links to key European markets."
"We are happy that this investment will be financed by the Romanian authorities through state aid, thus contributing significantly to the decision of choosing Romania as an investment location,” Noerr Partner Iulian Sorescu commented. "We hope that this kind of investment will increase in Romania over the next few years in economic fields where the national competitive advantage is not so developed."
The Noerr team was led by Sorescu and Partner Rusandra Sandu.