The project will reduce Romania’s dependency on imports, increase the competitiveness of Romanian companies and increase bilateral cooperation with Norway. It will implement innovative technology, create 12 jobs and provide green solutions for CO2 reductions.
Partnership with Link Medical Research in Norway
Olstral searched for a partner for the project in Norway. The Romanian company lacked expertise to do a successful shift / transfer into the production of high precision medical devices and implants and to become an independent supplier to large medical companies. They found the needed expertise at Link Medical Research in Norway, and the partnership adds real value to the project.
The short-term contribution of Link Medical Research is to help Olstral HPT to succeed in becoming a subcontractor for large manufacturers of medical devices. Link Medical Research will help obtain quality standards required for necessary permits, develop an internal system (in terms of technology, quality, traceability, capability) that respects the demands of the medical device customers and provide knowledge support in developing a product line for medical implants.
The partnership will last beyond the implementation period of the project.
Investment in medical aerospace manufacturing machines and green solutions
Olstral HPT is a medium-size, family-owned company in Brasov, Romania. Olstral operates in the trade of high accuracy processing equipment sector. They produce small components of high accuracy for aerospace industryas well as parts for the hydraulic industries, aviation, the transmission industries and medical equipment. The main goal of the project is to further develop the capacity to produce and deliver parts for the aerospace segment and medical segment.
Increasing the competitiveness of Romanian business
Through this project, Olstral will establish an innovative and sustainable production unit in Romania. This will make Olstral HPT one of few companies in Romania that supply parts for the aerospace markets and the first Romanian company able to produce parts for the medical industry.
The project will allow the company to manufacture parts for medical equipment, medical implant screws, dental implants, orthopaedic surgical implants, complex parts for aviation industry.
Expected results of the project:
- Estimated annual growth in turnover – increase with 35% in 2022 compared to baseline year 2019
- Estimated annual growth in net operational profit (EBIT): 650% in 2022 compared to baseline year 2019
- Estimated annual decrease of CO2 emissions from 111,54 tonnes of CO2 (year 2019) to 83,11 tonnes of CO2 (2022)
- 12 new jobs created
- Innovative technologies implemented
The SMEs Growth Programme in Romania
The project is supported by Norway, Iceland and Liehtenstein through the EEA and Norway Grants. See more opportunities under the SMEs Growth Programme in Romania.
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