Italian Tissue Specialist Celtex Mulls Investment in Moldova

Italy’s Celtex is set for growth in eastern Europe. The tissue specialist is reportedly considering an investment in Moldova.

According to the country’s Ministry of Economy and Infrastructure, a meeting with Celtex CEO Andrea Bernacchi to establish investment opportunities in the Republic of Moldova took place in Sepetmber. "The parties discussed the investment climate and the opportunities offered by the seven free economic zones and the 11 subzones of the Republic of Moldava [...]," the ministry said in a statement.

It added that Celtex intends to spend an initial Euro 3-4 million ($3.6-4.8 million) on a production facility for toilet paper and related export-oriented items in the Otaki-Business free economic zone.  Celtex was not available for immediate comment.