Italian firm investing €1.5m in Malta plant

The Ministry for Investment, Industry and Information Technology and Oli SpA, an Italian industrial manufacturing firm, yesterday announced that a new plant manufacturing industrial equipment will open in Malta in March.

Oli SpA belongs to Wamgroup that employs over 2,000 persons in several factories worldwide. Oli's new plant here will manufacture industrial equipment processing goods sourced from the Far East and exporting them to the European and other markets.

The agreement with the Investments Ministry was concluded following talks between Wamgroup chairman Vanier Marchesini and Minister Austin Gatt.

At the conclusion of talks, Dr Gatt remarked that Oli's investment "confirms the government's commitment to see Malta's manufacturing sector expand and employ more people. Maltese workers can genuinely add value to manufacturing processes in which we can be competitive. In those sectors where we can give investors higher return we can accumulate for our economy more jobs, more prosperity and more opportunity for growth".

Mr Marchesini explained how his company will be combining the skills of Maltese employees with the excellent shipping connections at Malta Freeport. Oli is investing €1.5 million in its Malta project that is expected to create 30 new jobs.

"Our partnership with Malta's government and our investment here are a sure sign of our confidence that Malta's manufacturing prowess can truly make a difference for our business. We chose this location carefully and with full confidence that this project will be of benefit to us and to our new home: Malta," he said.

Wamgroup includes more than 30 commercial companies worldwide and seven manufacturing factories outside Italy employing about 1,600 persons worldwide and 650 in Italy. Last year, the consolidated turnover of the group exceeded €157 million.

Oli will be using Malta as a centre from which products coming from the Far East will be modified and redistributed. About 60 per cent of the production will be EU-bound, 20 per cent will be marketed in the USA and the rest in Asia and the Middle East.

Oli will be investing in a computerised warehouse system operated by a robotic arm to be installed in the factory allocated to them in Hal Far, the ministry said.