Techtex, a company specializing in the production of technical textiles, mainly personal protective equipment (face masks, Dr. Albert brand), part of the IKEA supplier Taparo Group (also in dire financial conditions), has entered insolvency, according to Ziarul Financiar.

The face mask factory was developed by the Taparo Group during the 2020 pandemic, with EUR 20 million in funding from state bank Eximbank and guidance from banker Dan Pascariu.

Techtex is controlled by Mihai Filip (the owner of Taparo Group, 82% of the shares), Mircea Bogdan Man (14%), and Dan Pascariu (2.9%), according to data from Termene.ro.

After three consecutive years of growth, Techtex experienced a decrease in turnover in 2023 (the latest available data). Thus, the company reported a turnover down 33% compared to the previous year, to RON 87 million, according to data from the Ministry of Finance. 

The company's net profit, however, increased slightly to RON 3.7 million. It had an average of 169 employees, compared to 283 the previous year and 316 in 2021.

Techtex is a company that experienced growth during the pandemic, with the Filip family investing around EUR 20 million, according to 2020 data, in the development of a medical textile factory, including the production of masks (Dr. Albert brand), gowns, coveralls, and bed linen.

However, Mihai Filip, Techtex shareholder and Taparo CEO, said in a 2023 ZF show that the division is starting to reposition itself in the market, wanting to focus on sales to hospitals and specialized distribution. Thus, Taparo has already begun delivering protective equipment to hospitals in Romania, Austria, and Spain, he said.

Taparo Group, with IKEA as its main client, entered pre-insolvency procedures in November 2024.

The furniture factory had no production activities in February and March 2025 due to the financial blockage it is in the context in which the company entered insolvency in November last year.

According to the latest data, Taparo exported over 80% of its production, and one of its most important customers was IKEA.

iulian@romania-insider.com

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