Techtex, a company specializing in the production of technical textiles, mainly personal protective equipment (face masks, Dr. Albert brand), part of the IKEA supplier Taparo Group (also in dire financial conditions), has entered insolvency, according to Ziarul Financiar.
The face mask factory was developed by the Taparo Group during the 2020 pandemic, with EUR 20 million in funding from state bank Eximbank and guidance from banker Dan Pascariu.
Techtex is controlled by Mihai Filip (the owner of Taparo Group, 82% of the shares), Mircea Bogdan Man (14%), and Dan Pascariu (2.9%), according to data from Termene.ro.
After three consecutive years of growth, Techtex experienced a decrease in turnover in 2023 (the latest available data)….
