# Magnetec opens $5 million manufacturing plant in Balti, Moldova

German industrial concern Magnetec has opened a manufacturing plant in Moldova's Balti Free Economic Zone following a $5 million investment. The plant will employ 70 and is operated through local subsidiary Magnetec Components SRL.

- Type: New facility
- Announced: 2020-09-04
- Where: Balti Free Economic Zone, Moldova
- Value: $5.00M
- Jobs: 70
- Starts operating: 4 Sep 2020
- Status: completed
- Products: inductive coils, non-ferrous metals, electronic components, electric motors, generators, transformers, fiber optic cables
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Magnetec](https://endata.com/companies/49766.md)
- [Magnetec Components](https://endata.com/companies/49767.md)

## Sources

- [scceu.org](https://scceu.org/germanys-magnetec-opens-5-mln-factory-in-moldovas-balti/), 2020-09-07: "German industrial concern Magnetec has opened a manufacturing plant in Moldova's Balti Free Economic Zone (FEZ) following a $5 million (4.2 million euro) investment."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.