Romanian contractor working for Chicco closes operations and fires 261
Italian group Artsana SpA decided to close down in November the factory it operates in northeast Romania, in Botoşani, according to documents consulted by Economica.
It employs 261 people there and produces parts for the global group Chicco.
The Italian group decided to close operations in Romania because of the lower volume of orders and rising production costs.
Artsana Romania reported its turnover dropped by 27% y/y to RON 30.5 million (EUR 6 million).
The company has been in the red for two consecutive years, with RON 8 million losses in 2023.
(Photo: Andrii Yalanskyi | Dreamstime.com)
iulian@romania-insider.com
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