This result propels the company among the five largest tissue paper manufacturers. The ranking also lists Pehart Tec Grup, con¬trolled by private equity fund Abris Capital, Vrancart, held by SIF Banat-Crisana (SIF1.RO) and Sofidel, part of Italy’s Sofidel Group, as per estimations by Ziarul Financiar (ZF) daily based on data on www.termene.ro.
MG TEC Industry, which had on average 262 employees in 2022, reported a net profit of RON4.9 million (almost EUR1 million).
The MG TEC Industry factory is a project started in 2018 and the value of investments stands at EUR100 million, in line with company data. A part of the amount, EUR48 million, is a loan from state-run lender CEC Bank and another part, EUR32 million, represents state aid.
The products of MG TEC Industry are distributed both on the local market (40% of the output at mid-2022) and on foreign markets (60%) to countries such as Ukraine, Serbia, Hungary, the Czech Republic, Poland, Austria, Germany, Switzerland, Slovenia, company data also show.