Italian group Radici, a player in the textiles industry, has completed its 2-million-euro investment in expanding production capacities at its YarNea synthetic fibres plant in Savinesti.
"The investment means the company''s production capacity can be used at 100%, allowing us to increase sales to the main tyre producers," said Guido Castelluccio, general manager of YarNea.
YarNea turned over 18 million euros in the first six months of the year, which company officials expect to double by the end of the second half. The Radici group, which also includes Fibrex Nylon, expects to achieve full-year turnover of 41 million euros in 2005.
The manufacture of textile fibres for tyre producers accounts for around half of the plant''s total production and is the company''s strategic product, representing 70% of total turnover.
For this year, representatives of the Italian group have forecast 20% higher sales of tyre cords.
"The new production capacity required an increase in the number of employees by at least 10% over the last six months," said the YarNea general manager.
He added that the company invests between 5 and 10% of its turnover in technology and human resources each year.
The company''s sales network in Romania is integrated into that of the Radici group in Italy and directly manages the markets of Central Europe, even involving production in Italy and other countries where the group has production centres.
Over 70% of the YarNea''s total production goes to export and is aimed at processors and users of polyamide and polyester fibres.
The Italian group''s most important competitors are Nylstar, Nilit and Aquafil.
Radici took over Fibrex in January 2000 by purchasing the majority stake from the RASDAQ market. The group subsequently delisted the company from the RASDAQ through a public takeover offer. The Italian group completed its reorganisation of the firm last year, leading to the establishment of the new company specialised in textiles, YarNea.
By the end of last year, the group had invested in excess of 20m euros in Romania. dana.ciriperu@zf.ro
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