GST Safety Textiles Ro saw its loss widen to RON64.3 million (EUR13 million) in 2023, compared to a negative result of RON18.8 million (EUR3.8 million) recorded in 2022, as per publicly available data.
In 2023, the company reached an average number of 1,054 employees, 170 fewer than in 2022.
The company reached an average number of 1,224 employees. It 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 data provided previously.
Aside from Romania, Global Safety Textiles also has factories in Germany, China, Mexico and South Africa, as per data on thecompany’s website.
German concern Global Safety Textiles was acquired in November 2011 by South Korea’s Hyosung group, established in 1956.