RIFIL is the first public/private joint venture established with a Western partner, not only in Romania, but in the entire Communist bloc in Eastern Europe, and was founded on April 24, 1973 with the purpose of creating Italian-quality yarn through the collaboration between the Romanian government of the time and the most important group of yarn production 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 the company’s articles of association – by the 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 it certifies its state as a universal historical company by indicating the protocol number 1 of the country’s Business and Trade Registry.