Sinteza SA 2024 Annual Report
The report details Sinteza SA's financial and operational performance for the fiscal year 2024, highlighting a transition in its business model. Due to unfavorable market conditions and competition from Chinese producers, the company kept its benzoic acid plant in conservation and implemented a cost reduction plan, reducing its workforce to an average of 45 employees. To ensure business continuity, Sinteza pivoted toward the electrochemistry sector, signing a letter of intent with Lockheed Martin for electrolyte production and securing a PNRR financing contract for a new battery electrolyte production facility. Additionally, the company resolved a major historical environmental issue by selling land containing inactive hazardous waste landfills to a specialized greening company.
Company: Sinteza SA
Sector: Manufacturing
Country: Romania
Year: 2024
Type: Annual Report
Pages: 73
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Sinteza SA
The Board Of Directors' Report
The report details Sinteza SA's financial and operational performance for the fiscal year 2024, highlighting a transition in its business model. Due to unfavorable market conditions and competition from Chinese producers, the company kept its benzoic acid plant in conservation and implemented a cost reduction plan, reducing its workforce to an average of 45 employees. To ensure business continuity, Sinteza pivoted toward the electrochemistry sector, signing a letter of intent with Lockheed Martin for electrolyte production and securing a PNRR financing contract for a new battery electrolyte production facility. Additionally, the company resolved a major historical environmental issue by selling land containing inactive hazardous waste landfills to a specialized greening company.
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Document Details
Report Year
2024
Reporting Period
Jan 1, 2024 - Dec 31, 2024
Fiscal Year
2024
Type
Annual Report
Language
English
Pages
File Size
Standards & Assurance
No data available
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Employees