Romania Welcomes U.S. Factory Plans: Another Oil Industry Success

Lufkin Industries is a Texas-based company that specializes in top-of-the-line oil field and power transmission equipment.  They owe much of their international success to their ability to carry concepts from design, to manufacturing, marketing, and even installation.  Executives at Lufkin recently announced plans to build a new factory in Ploiesti, Romania – a $126 million construction investment.  The building project will be completed in 2012 and will create an estimated 300 jobs.

The Romanian government welcomes this new business partnership.  The Finance Ministry has agreed to contribute 28 million euro to cover approximately 30% of the building costs in return for the economic stimulus the new factory will bring to their country.

Lufkin Industries manager, Jay Glick, made it very clear in his recent press release that expanding operations into Romania is critical to the company’s ability to meet the demands of its clients.  The factory in Ploiesti will serve as a local energy hub and will benefit from the political stability of Romania as well as the country’s strong history of performance in the oil industry.