Industrial equipment plant to open in March

A new plant manufacturing industrial equipment processing goods sourced from the Far East for export to European and other markets is to open in Malta next March, the Ministry for Investment, Industry and Information Technology and Italian industrial manufacturing firm, OLI SpA, announced jointly.

OLI SpA belongs to Wamgroup that employs over 2,000 persons in several factories worldwide. OLI is investing €1.5 million in its Malta project that is expected to create 30 new jobs.

The agreement with the Ministry for Investment was clinched following talks between Wamgroup chairman Vanier Marchesini and Minister Austin Gatt.

Mr Marchesini explained how his company will be combining the skills of Maltese employees with the excellent shipping connections at the Malta Freeport with its worldwide markets.

Wamgroup includes more than 30 commercial companies worldwide and seven manufacturing factories outside Italy employing approximately 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 re-distributed. Around 60 per cent of the production will be EU-bound, 20 per cent will be marketed in the US, and the rest in Asia and the Middle East countries.

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.