Italian Cartonplast will invest €15 million in Tarnowskie Góry

11.08.2004

Tarnogórska Economic Activity Zone has attracted its first foreign investor. Production facility formerly owned by FUG Tagor has been purchased by Katowice-based Cartonplast Polska, a subsidiary of well-known Italian industrial packaging manufacturer Karton S.p.A. The company will invest in Poland about €15 milion by 2010.

The estimated value of the transaction amounted to over PLN 1 million. Cartonplast has pledged to commence business activity by the end of 2005, while only half a year later the plant should employ at least 100 people. Cartonplast is to invest €4 million in the venture by the of 2006 and €15 million until the end of 2010.

Cartonplast Polska is a Polish subsidiary of Italian Karton S.p.A., a wold's leading manufacturer of carton and plastic packages. The plant in Tarnowskie Góry will manufacture packages designated for sale on the Eastern markets.

Up to recently the facility purchased by Cartonplast was owned by the State Treasury and managed by the Poviat Tarnogórski. The real estate is now a part of the Tarnowskie Góry Economic Activity Zone - an undertaking carried out jointly by the Poviat and the City officials aiming at decreasing unemployment and reviving the local labour market.

As part of the agreement the Poviat, Tarnowskie Góry Commune and the Investor have pledged to jointly construct a new road to the manufacturing facility. Investor and the Poviat will each cover 30% of the costs while the Commune - 40%.