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Romsilva will end 2014 on a gross profit of over 130 million lei

Wednesday, December 17, 2014

The National Public Forestry Corporation Romsilva will end 2014 on a gross profit of over 130 million lei, up by 30% from that of last year and a turnover of 1.44 billion lei, higher by 15% than that in 2013, Romsilva's CEO Adam Craciunescu told a Tuesday's activity-review conference.   'Romsilva has had a year with good results, given that we have recorded a turnover of 1.44 billion lei, which is much higher than the forecast one of 1.255 billion ...

The new share market for SMEs will be launched on February 25, 2015

Wednesday, December 17, 2014

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 The new share market for SMEs, called AeRO, will be launched on February 25, 2015, the Bucharest Stock Exchange /BVB/ CEO Ludwik Sobolewski told a Friday's specialist conference. "We have worked hard at the BVB to create a new legend in Central and Eastern Europe when it comes to capital markets. This year we have had achievements and we are closer to what we may call a modern capital market, but more things are still to be done. We will launch a new ...

Germany’s Bosch to open a new R&D office in Romania

Wednesday, December 17, 2014

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Germany’s Bosch on Wednesday said it will open a new office in Cluj-Napoca (northwestern Romania), at the beginning of 2015, where it will develop software solutions for new products.“Bosch intends to intensify local research and development activities by opening a new office in the centre of Cluj-Napoca, at the start of 2015. In our new R&Dcentre, Bosch will focus mainly on developing software for new products and functions, such as stereo video ...

Kährs Group expands production capacity for wooden floors in Romania

Wednesday, December 17, 2014

Kährs Group, a Swedish wood and resilient flooring manufacturer, will increase hardwood flooring production capacity in the existing production unit in Satulung, Romania. As the company says in a press release, the movement is a part of the ongoing efforts to streamline the production process further within the group, so now parts of the wooden floor range will be produced in Romania. Kährs Group aims to increase total production capacity as ...

UTI Group to update Brasov's public transportation system

Wednesday, December 17, 2014

UTI Grup will provide Brasov Townhall with equipment and services which will update the public transportation system, in a contract worth RON 29.34 million (VAT included).The 12-month contract was attributed on December 8. UTI Grup submitted its bid in association with Radcom and subcontractor Industrial Software SRL Sibiu.“The IT Management of Transport project implies supply, assembly and installation of an information system that includes a ...

100,000-mark of registrations was passed in 2014

Wednesday, December 17, 2014

Over 100,000 new economic operators were registered during this January-November, according to figures supplied by the Trade Registry and the analyses conducted by the Department for SMEs, Business Climate and Tourism. "We are glad that the 100,000-mark of registrations was passed in 2014, which points to the fact the business climate is in constant movement and evolution. At the same time, it is worth noticing that professional, scientific and technical ...

US Quintana shows interest in CE Hunedoara, as electricity producer nears insolvency

Wednesday, December 17, 2014

Andrei Gerea, the new SME’s and Energy minister said on Monday that Hunedoara Energy Complex (CE Hunedoara) is close to insolvency and needs to increase efficiency, while there is some interest in its privatization, writes Mediafax.   Earlier in the day, the former Energy minister, Razvan Nicolescu, which is no longer part of the new government, said U.S. company Quintana Minerals Corporation is interested in the ...

Debenhams to open store in Bucharest next spring

Wednesday, December 17, 2014

British fashion retailer Debenhams will open a store in the Bucuresti Mall shopping center in the spring of 2015, according to Mediafax.This will mark the retailer’s return to the local market after local businessman Octavian Radu gave up on the Debenhams franchise and closed the last local stores in April 2013.   Radu, who before the crisis owned several ...

BNY Mellon hails trailblazing move to open up Romanian market to foreign investors

Wednesday, December 17, 2014

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BNY Mellon, a global leader in investment management and investment services, has welcomed new rules which make it easier for foreign investors to buy securities in Romanian companies by allowing more companies to issue depositary receipts (DRs).   In 2013 the Financial Supervisory Authority (FSA) in Romania agreed to allow Romanian-based companies, listing in their home market for the first time, to also list in other ...

Spain’s Decimas to open its 1st sportswear store in Romania before Christmas

Wednesday, December 17, 2014

Spanish sportswear retailer Decimas will open its first Romanian unit on December 19. The store selling sports fashion and items will operate out of Auchan Drumul taberei.“On the ground floor we will have a sportswear store Decimas. The grand opening is scheduled for December 19″, said Tatian Diaconu, general director Immochan Romania.   Decimas has already planned to open a second unit next year, covering 600 ...

immpuls becomes REC Immpuls after rebranding of European Group into REC Partners

Wednesday, December 17, 2014

  Starting with 2015, the internationally operating real estate strategic planners and technical experts from immpuls will join in a new structure under a new umbrella brand – the REC Partners.   REC Partners unites all the corporate capabilities of the established operative companies under the new REC umbrella brand: these include REC Concepts (formerly Luxemburger Team) from Cologne, REC ...

Siveco is part of consortium supplying IT services of 100 million euros to EC in four years

Wednesday, December 10, 2014

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The European Commission selected the offer presented by a consortium which also includes Siveco Romania, to supply IT services for four years as part of a contract involving 550 specialists, with an allocated budget of 100 million euros, the company announced.   “Siveco is the only Romanian company selected to supply IT services to EC for four years, as part of the frame contract ESP-DESIS III, the biggest EC contract ...

Eurocopter Romania concluded a partnership with the British Royal Armed Forces

Wednesday, December 10, 2014

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 Eurocopter Romania, the British Royal Armed Forces have concluded a partnership of upgrading 20 PUMA helicopters, the moment being marked by an event organised at the company's headquarters in Ghimbav (central ...

Romania's proposals for Junker investment plan stand at 250 million euros for 2015-2017

Wednesday, December 10, 2014

 Romania's proposal for the budget allotted the multi-annual industrialization programme (Junker investment plan) meant to boost the investments in the economy stands at 250 million euros for 2015-2017, the Department for the Small and Medium-Sized Enterprises, Business Climate and Tourism said in a release on Monday. According ...

6th largest car part manufacturer in the world to open a plant in Valcea

Wednesday, December 10, 2014

Dumitru Cornoiu, prefect for Valcea county, announced on Monday for Agerpres that a multinational company in the car parts industry will build a new production plant in Ostroveni industrial park next year, thus creating 1,500 new jobs, writes economica.net.   Faurecia is present in the area since 2013 with a factory where it employs 300 people. Faurecia is the 6th largest car part producer in the ...

Romanian Post to end 2014 with RON 74.3 mln operational profit after 7-year loss streak

Wednesday, December 10, 2014

The Romanian Post will end the current year with an operational profit of RON 74.3 million, compared to a RON 35 million loss in 2013 and another negative result of RON 52 million two years ago, according to a press release from the Ministry for Information Society.   MSI owns the majority share package of 75 percent of CNPR, while the rest of shares belongs to Fondul ...

Burger King Worldwide Enters Joint Venture to Grow Brand in Italy, Poland, Greece & Romania

Wednesday, December 10, 2014

 Burger King Worldwide announced the establishment of Burger King SEE S.A. as a joint venture to aggressively expand the BURGER KING® brand presence and business in Italy, Poland, Greece and Romania. Burger King SEE S.A., the joint venture, has signed a long-term master franchise and exclusive development agreement, which includes sub-franchise rights for all of these markets. While the BURGER KING® brand currently operates in Italy, Poland and Romania, the joint ...

Vasilescu (BNR): restructuring is needed by all 700,000 companies in Romania

Wednesday, December 10, 2014

Regardless of how many companies in Romania are insolvent, it is currently important to have a fresh law, but in my opinion, restructuring is needed by all the 700,000 companies in our country, Adrian Vasilescu, advisor to the Governor of Romania's National Bank /BNR/, told a Thursday's specialist ...

COFACE:NUMBER OF INSOLVENCIES IN ROMANIA CONTINUES TO DECLINE IN Q3 2014

Wednesday, December 10, 2014

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  Coface’s analysis, based on the data provided by the National Trade Register Office, indicates that during the first nine months of this year 15.575 new insolvencies were registered, down by 17% compared to the same period of 2013 (when 18.735 new insolvencies were opened). The contraction registered at the end of September is in line with the forecasts announced by Coface at the end of the first semester, ie a reduction of 15% of the ...

Ukraine’s Vikoil Ltd opens branch in Romania

Wednesday, December 10, 2014

Kiev-based Vikoil Ltd, specialised in gprospecting, has opened a branch in Romania, the only one outside Ukraine, and targets activities in the onshore and offshore prospects of oil and gas, mainly in the unconventional category, ...

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