The Growth of Our Group
RIFIL is the first public-private joint venture established with a western partner, not only in Romania, but in the entire communist bloc of Eastern Europe; it was founded on April 24, 1973 with the purpose of creating Italian quality yarns through collaboration between the then Romanian government and the most important yarn production group in Italy.
The establishment of the Italian-Romanian joint venture RIFIL, a Romanian legal entity based in Săvineşti, Neamţ province, was approved – together with the company contract and statute – by Decree No. 252 of the State Council of the Socialist Republic of Romania. The certificate of incorporation at the Ministry of Finance is dated May 14, 1973 and certifies its status as a universal historic company, with the indication of protocol No. 1 of the Country's Business and Trade Register.
The initial purpose of the partnership, declared in the decree, was the production and sale of colored and non-acrylic yarns, and the first plant began its activity with the hiring of 400 employees.
The actual founding act, consisting of the company contract, was signed by Valeriu Momanu, representing the Romanian Government, and by Emilio Falco representing the most important Italian yarn production group that still dominates the sector worldwide today, the result of a century-old history and international corporate strength, as well as owner of the most famous yarn brands in the world, such as Folco and Lanerossi.
The official affiliated companies mentioned in the certificate of incorporation were the Săvinești Chemical Fiber Industrial Plant (52%) and ROMALFA Spa of Biella (48%), owned by Emilio Falco and Giacomo Verzoletto, leaders in acrylic yarn production, pioneers of industrial culture in Italian yarn production worldwide, as well as producers and exporters of high-quality Italian production and know-how since the early 1900s.
After almost 50 years the story of Italian beauty and Romanian strength, founded by two pioneers in a State that believed in the capabilities of its people, continues and has consolidated, becoming the best international group in the production of acrylic yarns and wool blends of Italian quality.
After the December 1989 Revolution, the company first became a National leader, then European and now Global in the production of Italian quality yarns, always participating in public life, employing more than 1000 workers throughout Romania through acquisitions of other industrial groups and building a unique model of quality social enterprise, with unmatched performance in respecting all aspects related to Welfare, the environment and Workers' Health.