A new plant manufacturing industrial equipment is opening in Malta in March, the Investments, Industry and IT Ministry and the Italian industrial manufacturing firm OLI S.p.A. said.

OLI S.p.A. belongs to WAMGROUP, which employs over 2,000 persons in several factories worldwide. OLI’s new plant in Malta 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, Minister Gatt remarked that OLI’s investment in Malta “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 more jobs for our economy, more prosperity and more opportunity for growth.”

Chairman 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. OLI is investing EUR1.5 million (Lm643,000) in its Malta plant, which is expected to create 30 jobs.

The 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 EUR157 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 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.