Steilmann could close its Mangalia factory

“We are in the process of negotiating.  We are trying to find a solution. We would prefer not to close, because there are large investments there. We will know more as of January,” Romeo Pomponiu, the company’s General Manager, told Business Standard.

Players in light industry are estimating production to drop by up to 15 percent in 2009, due to the international financial crisis. According to data provided by the Federation of Employers in the Textile, Confections, and Leather Industries (FEPAIUS), the value of industrial production amounted to RON 6 billion (some €1.7 bln) in this year’s first seven months, down from €2.6 bln in 2007.