The Turkish company Superlit, part of the Karamanci Holding group, specialised in the production and distribution of tubes and pipes worldwide, will close down its factory in Romania, located in Buzau, Profit.ro reported.

With a turnover of some EUR 10 mln and employing nearly 100, the factory was built in 2018 under a EUR 10 mln project.

The group argues that the domestic sales dropped dramatically, the transportation costs also increased and recovering its receivables from local customers turned into a difficult process recently.

However, other factors are relevant as well: the bankruptcy of the company’s main customer (an Austrian company), the increase in the prices of the raw material and supply chain problems worldwide.

All in all, Superlit cannot keep its costs below the break-even point in Romania. Superlit, founded in 1961, started production in Buzau in 2008.

That year, together with the Romanian Romet Group, Superlit built a GRP (fiberglass reinforced plastic) pipe factory in Buzau, following an investment of EUR 10 mln.

(Photo: Şafak Çakır | Dreamstime.com)

andrei@romania-insider.com