Teba sells Brad plant to Italian group

Teba Industries, a Dutch group with operations in the textile industry, which in 2007 had reached over 6,000 employees in three production facilities in Romania has sold the last plant it held in Brad, Hunedoara, for 3m euros to its only client, Italy's Unitessile company.

"The plant, with 400 employees, was sold to the client that previously took over the entire production, Unitessile, for 3m euros. The unit's capacity currently stands at 20,000 pieces per day," Florin Oprişa, manager of Teba Brad Industry, told ZF.
Like all the other employees, Oprişa will retain his position after the deal is completed, in January.
Teba Industries, which three years ago derived total turnover worth 40m euros from textile production in Arad, Iaşi and Brad, has in turn given up all its production facilities because of the "too high production costs", as the group's management previously announced.