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In 2016, Timișoara won the title of European Capital of Culture for 2021, by a decision mainly based on the organisers’ intention to connect and actively involve the members of the Timișoara community in the city’s cultural life. The mosaic of ethnicities, cultures, denominations, and professions specific to the population of Timișoara is closely related to the past of the city on the Bega Canal, which has been the most important industrial urban centre in the region for centuries. However, the industrial ensembles in Timișoara, once an expression of progress and prosperity, have become certain victims of a transition system, now doomed to extinction and oblivion. Fortunately, Timișoara can still profit from the opportunity it was offered four years ago, by directing additional efforts towards safeguarding its industrial heritage at least partially. In this context, an ample discussion on the current condition of the industrial heritage in Timișoara is necessary.