Having struggled for years, Beti, a leading European manufacturer of dyed polyamide yarns, broke even last year and has managed to sell its debt to a strategic investor. According to unofficial information obtained by the newspaper Dnevnik, the investor is affiliated with German company Medi&Co.

Medi, a leading global manufacturer of medical equipment based on compression technology and a producer of sports and fashion products under the ITEM m6 and CEP brands, bought €3.9 million in claims against the Metlika-based company at the end of 2022 from Slovenia's bad bank, Dnevnik reported on 12 January.

Bank Assets Management Company has since merged with Slovenian Sovereign Holding, which would not reveal who bought the claims or how much they paid for them. It did say though that it was a strategic buyer from the textile industry.

Unofficial information indicates that the German company is also interested in buying a stake in Beti, but its sole owner, Viktor Kozjan, would not comment on this for the paper.

The Metlika-based company struggled for years. After the 2013 court-mandated debt restructuring, the company's operations stabilised but it was still unable to secure funds for growth and development or to pay off its liabilities.

The company, which employs some 150 people, also abandoned production of underwear and focussed on the dyed polyamide yarns. Today it is a global leader in this segment, with the list of its buyers including multinational corporation Nike.

According to CEO Maja Čibej, Beti broke even last year, generating sales revenue of around €11 million, up from €9.6 million in 2021. But the increase was mainly due to the higher prices of products.

The company exports 97% of its output, half of which to EU countries and most of the rest to Turkey and the US. Before the war in Ukraine, Russia had also been an important market.

Despite the lack of funds for investment, the company managed to develop new types of yarns in recent years with its development focusing on sustainable materials. It also uses about 15% of recycled materials.