Noerr advised STADA Romania on the 48.3 Million Euro greenfield investment in Turda

Noerr has assisted STADA Romania, the Romanian subsidiary of the STADA Arzneimittel AG group, throughout the implementation of a greenfield investment to be realised in Aries Industrial Park in Turda, Cluj County, from the first discussions regarding the investment up to its financing through state aid from the Romanian government.

The 48.3 million Euro investment aims at developing a new pharmaceutical production and packaging facility with a total area of approximately 30,000 sqm. It will initially include nine state-of-the-art technology lines for solid-dose products (capsules and tablets), with a capacity of 100 million packages per year and the possibility to expand the number of production lines to 12.

The finished products from the Turda facility (both prescription and over-the-counter pharmaceuticals) are intended to mainly serve the European markets in which STADA Group operates.

The investment is scheduled to be completed in October 2024. It will generate 375 new jobs and will receive state aid with a total value of around 21.5 million Euro.

Noerr provided legal assistance throughout the entire greenfield investment covering all aspects, from corporate matters to due diligence investigations for land acquisition and negotiating the sale and purchase agreement. The team was coordinated by partners Rusandra Sandu (lawyer) and Iulian Sorescu (state aid expert).

“It has been a long and complex project and we are happy that this investment will be financed by the Romanian authorities through state aid, this contributing significantly to the decision of choosing Romania as investment location. We hope that this kind of investments will increase in Romania over the next few years in economic fields where the national competitive advantage is not so developed,” said Iulian Sorescu, Noerr Partner.