Romanian textile factories are closing in order to make room for real estate developments. Last year, the only terry towel maker Frottierex was acquired by the Turkish group Caba, not for its production capacity but for its land. An 600-apartment project will be built on the former industrial platform. This year, another textile giant gives up: the largest hosiery manufacturer in the country – Adesgo. According to sources, the company was sold to a real estate developer which plans to expand its existing project located in the proximity of Adesgo’s factory. Founded in Bucharest in the 1920’s, Adesgo increased its capacity to reach 1 million pairs of tights a month, plus over 600,000 seamless lingerie items & stockings for international high profile brands, such as Cacharel, Spanks, Tesco, Hema, Tu, Intersport.

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