RIFIL Romania plans EUR 4 mln investments this year

Romania’s RIFIL, the yarn manufacturer, pursues a EUR 4 million investment program this year, which includes the acquisition of manufacturing equipments and the development of new products.

The company has allotted EUR 3 million in a program for improving electricity consumption at the Savinesti unit, in Neamt County, for which 52 percent of the financing comes from EU sources.

RIFL exports mainly in Europe (Poland, Spain, France, Germany, UK, Italy) and also in the US, according to Ioan Stratila, the company’s president.  At present, around 21 percent of the yarn sales of RIFIL Group are generated on the local market. Some of its biggest clients are Italy’s Arfil and Giorgini, France’s Dickson and UK’s Pax Ardel.

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The industrial might of China – the world’s manufacturing powerhouse, doesn’t intimidate the company.

“China is not a threat for us because European consumers (mainly) prefer the yarn producers in areas that require lower transport costs and that are able to provide higher quality products that can meet the needs of consumers in the evolved and exacting market,” Stratila told BR.

He added the local textile industry looks competitive given its significant contribution to exports.

“We believe that trough a more careful and professional approach regarding the development of the textile industry supported by the Romanian Government, we think the perspectives are there to diversify the range of products, reviving, in principle, the use of natural fibers (flax, hemp, wool), which at present is practically inexistent,” said the president.

Around 525 people worked last year in the three manufacturing facilities controlled by RIFIL. This year’s investments will increase the headcount by around 3 percent. The company’s production operations are based in the Moldova region, in Savinesti, Campulung Moldovenesc and Gura Humorului.

RIFIL registered a turnover of around EUR 65 million in 2012 and generated business worth EUR 18 million in the first four months of 2013.

The company has both foreign and local individuals and companies as shareholders, including Italian Qquanti or Dutch Fraver Textile Int.

Ovidiu Posirca