GST Safety Textiles Ro saw its loss widen to RON83.2 million (EUR16.7 million) in 2024, compared to a negative result of RON64.3 million (EUR13 million) reported in 2023, per public data.
The company had an average number of 983 employees in 2024, 71 fewer than in 2023.
GST Safety Textiles Ro has a plant in Albesti, Mures county, operating since 2014. The production unit was built via a EUR46 million investment, with EUR18.5 million as state aid, in line with previous data.
Aside from Romania, Global Safety Textiles also has factories in Germany, China and Mexico, per data on the company’s website.
German concern Global Safety Textiles was acquired in November 2011 by South Korea’s Hyosung group, established in 1956.