Rifil business drops 12% in H1

Textile fibre producer Rifil Savinesti posted a turnover worth 13.7 billion euros in the first six months of the year, an approximately 12% decrease against the same period of last year, when the company had to offset the losses caused by a fire in 2004. “The quantitative drop in sales, both on the domestic and on the foreign market was generated by the competition, especially on the European market, with products processed from the same type of threads as those of Rifil, but brought from China,” explained Ion Stratila, Rifil’s general manager, when asked for comment on the company’s results. Stratila also says that domestic producers have been hurt in the last few years by unfair competition from producers from the Far East. The flood of products originating from such countries as China, India, Pakistan and Vietnam on the European market, has restricted the opportunity for local players to produce for export, as they cannot match the prices of their Asian competitors.