www.gandul.ro/actualitate/prabusirea-sidex-galati-

Sidex, once a pillar of Romania's industrial growth, is now facing severe financial distress under owner Sanjeev Gupta. The company, which produced 8 million tons of steel annually at its peak, is now burdened with massive debts and has seen significant job losses. Gupta's promises of revitalization have not materialized, leading to a critical situation where the company struggles to pay salaries and utilities. Despite government support through loans, Sidex has recorded staggering losses, with 2.2 billion lei in 2023 alone. The future of this once-thriving steel producer remains uncertain as it approaches insolvency.