Business News

Fibers Maker Julon Launches High-Tech Project Worth EUR 17M

Ljubljana, 19 May (STA) - Julon, an Italian-owned synthetic fibers manufacturer, launched on Thursday a high-tech investment project worth EUR 17m, of which EUR 3.6m was contributed by the government. Economy Minister Darja Radic assessed at the ceremony that the project would bring technological development and high-quality jobs.

Conceived by Julon's owner, Italian company Aquafil, the project Econyl involves recycling of waste into a compound called caprolactam, the basis for the manufacturing of polyamide 6. It is expected to create 45 skilled jobs.

Julon boss Edi Kraus said that a lot of know-how, capital, time and energy was invested in the project. "Econyl is the beginning of a new story," he told the press in Ljubljana.

Radic noted that the investment is important also because it is a joint investment, which strengthens the economic cooperation between Slovenia and Italy, which is Slovenia's second-biggest trade partner and places fourth in terms of FDI.

Trade is currently focused on Slovenia's cooperation with the north of Italy, and Slovenia would like to expand cooperation to other parts of the country. There are plenty of opportunities for joint investments, Radic said.

The investment in Julon is proof that this is possible, she said, adding that in both countries there are companies capable of making joint investments and creating new products and services, according to the minister.

Radic said that the project would also bring higher added value in Slovenia. "I'm particularly happy because of this and I wish that there will be similar joint investments in the future."

Her Italian counterpart Paolo Romani agreed that the investment is important, that the countries are important trade partners and that there are opportunities for further investments.

The Italian group Aquafil specialises in the production of Nylon 6 and fibres for carpeted floors. Last year it generated turnover of EUR 432m, up from EUR 330m in 2009, according to Aquafil chairman Giulio Bonazzi.

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