New resident company at ZEL Ungheni-Business

A new resident company was registered at the free economic zone ZEL Ungheni-Business. The foreign company with Turkish capital I.C.S Hizmet Group SRL became the winner of a contest to select residents. The company will produce socks and textile fibers. It plans to invest about US$500,000 in the zone and create 150 new workplaces. The average salary of an employee at the initial stage will be 2,000 lei. The raw material will be imported from Turkey, while the finished products will be sold in the EU, especially Germany. The company projects the net sales by 2012 will reach about US$4.5 million.