Iasitex, one of the top ten producers in the textile industry, is counting on the expansion of production facilities and personnel growth, at a time when most players in the sector are concerned with reducing funds, previously earmarked for investment.
Gheorghe Caescu, 52, has been running Iasitex since March 2006, filling both the position of general manager and that of chairman of the board. Iasitex, part of the Serviciile Comerciale Romane (SCR) group, controlled by businessman Stefan Vuza, has invested around 6m euros over the past 3 years, mainly to retool production facilities.
"To survive on the textile market, one has to have a high level of productivity, in order to sustain both costs and prices at a low level.
According to Caescu, the Romanian textile industry players will have to reposition themselves in order to get the portion of the market that is not already covered by Asia, to ensure survival in the long term. The textile market has recently been estimated at around 9.5bn euros, but industry players expect the market to register a decline by around 2 billion euros by 2010.
Romania's biggest textile producers include Rosko Textil, Rifil Savinesti and Akrom Akal Textiles of Suceava.