De' Longhi to acquire Nokia facility in Romania

Nokia and De' Longhi, an Italy-based maker of household appliances, have agreed terms for De' Longhi to acquire Nokia's production facility in Cluj, Romania, subject to approvals by the relevant authorities. The transaction is expected to be finalised during the first quarter and the parties have agreed to keep the terms confidential. After announcing its plans in September 2011 to end manufacturing in Cluj and focus feature phone production in locations closest to suppliers and key markets, Nokia has been active in seeking potential buyers for the facility in close consultation with the relevant authorities in Romania. Nokia ended its production in Cluj in November 2011.