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Leroy Merlin opens 15th Romanian store in Timisoara

Wednesday, August 31, 2016

LEROY MERLIN, a major DIY retailer will open its 15thRomanian store in Timisoara, marking the end of the development, modernizing and rebranding process of bauMax stores, business-review.eu informs. The store, the first to be opened in the western part of the country, has a total surface of over 13,400 square meters. The store, featuring with a 4,000 square meters drive-in, offers over 28,000 products to be used for the building and ...

Six companies selected to grant them state aid for new investment projects

Wednesday, August 31, 2016

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Romania’s Finance Ministry has selected six companies out of 36 applicants to grant them state aid for new investment projects that would positively impact the local economy. All six companies are part of foreign groups. Pirelli Tyres Romania, Arctic, Clariant Products Ro, Robert Bosch, Safe Med International and Alu Menziken are the companies selected on the Finance Ministry’s short list for getting state aid. They have come up with investment projects worth almost EUR ...

ONRC reported 444,493 female shareholders or partners in companies at the end of July

Wednesday, August 31, 2016

The Romanian Office of National Trade Registry (ONRC) reported 444,493 female shareholders or partners in companies across the Romania, accounting for 36.64 percent of the ownership at the end of July. The number of male shareholders and partners was 768,641, amounting to ...

Romania offers to extend Ford production target deadline, conditional on 130

Wednesday, August 31, 2016

Romania's finance ministry said on Friday that it is proposing to extend to 2025 from 2017 the deadline by which U.S. carmaker Ford's local plant should meet the production volume target envisaged in the plant's privatisation contract, provided that the company invests 130 million euro ($146.8 million) in it by 2019, seenews.com informs. The production target of 810,000 cars and 1.5 million engines will be pushed to 2025 from December 31, 2017 if Ford invests 100 million euro in ...

Insolvencies by 22.54pct in the first seven months of 2016

Wednesday, August 31, 2016

Some 5,058 companies have become insolvent in the first seven months of 2016, dropping by 22.54pct against the same period of 2015, a release by the National Trade Register Office (ONRC) ...

ONRC registered 68,685 individuals and companies in the first seven months of 2016

Wednesday, August 31, 2016

The Romanian National Trade Register Office (ONRC) registered 68,685 individuals and companies in the first seven months of 2016, down by 4.56 percent against the same period of last year, when it reported 71,966, according to centralized ...

Adina Ionescu is the new EXECUTIVE Communication Director of Group Renault Romania

Wednesday, August 31, 2016

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Adina Ionescu is nominated as Communication and Social Responsibility Director of Renault Group Romania. She replaces Anca Oreviceanu, who will be assigned to another position within Renault Group. Consistently to Renault standard countries communication organization, Renault Group Romania Communication department will cover internal and external communications perimeter as well Corporate Social Responsibility activities of all Renault Group brands and units in ...

Entersoft Romania appoints Erica Voivozeanu as Implementation Manager

Wednesday, August 31, 2016

Entersoft Romania has appointed Erica Voivozeanu asImplementation Manager, business-review.eu informs. With 15 years of experience in business and consultancy software, she will lead a team tasked with implementing Entersoft solutions. According to a press release, the company is looking to double its team and hire experienced business and technical consultants. “I regard joining Entersoft as a very important stage for me personally, as well ...

Reuters: Romania's Oltchim launches assets sale, to pick winner by year-end

Wednesday, August 31, 2016

Romania's largest chemicals exporter, state-controlled Oltchim, launched an assets sale on Tuesday and set a Sept. 30 deadline for expressions of interest from investors, Reuters correspondent reports. Oltchim, which expects to pick a buyer by the end of the year, has been in insolvency proceedings since 2013 and is managed by administrators BDO Business Restructuring and Rominsolv. It has three main business units ...

Starbucks operator AmRest reports 25 pct gross earnings increase in Romania in Q2

Wednesday, August 31, 2016

Starbucks operator AmRest has reported a 25 percent increase in gross earnings in Romania, the highest among countries where AmRest operates the Starbucks brand, business-review.eu reports. The company also posted an EUR 17 million net profit in H1 as part of its financial results for the first half of the year. AmRest, the largest group of restaurants listed in Central Europe, has been operating the Starbucks ...

IKEA Group buys another 12,800 hectares of forests in Romania, plans further investments

Wednesday, August 24, 2016

Swedish IKEA Group has made another investment in the local forestry sector and says that its plans might include further acquisitions on the local market, business-review.eu informs. The furniture retailer has taken over 12,800 hectares of forests in Iasi and Neamt counties through IRI Investments, the subsidiary that controls its portfolio of forests in the country. The company did not mention who was the seller. „We ...

The National Association of Tourist Agencies excludes Genius Travel

Wednesday, August 24, 2016

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The National Association of the Tourist Agencies (ANAT) excludes Genius Travel, some days after the agency announced its clients through email that they get insolvency ‘ for moral prejudice created to the association, image prejudice created to the tourism agencies member and non-members of the association, which operate correctly and respect their clients, material prejudice created to the tourists who bought holidays from Genius Travel and they cannot honour ...

Profi reaches 433 stores in Romania, after opening three new units last week

Wednesday, August 24, 2016

Profi opened last week three new stores at Birca, Vacaresti and Hoghiz, business-review.eu reports. In Birca, Dolj county, and Vacaresti, Dambovita county, Profi opened two new stores last Thursday in Loco form. The store from Birca has a total surface of 311 sqm, out of which 208 sqm is the selling surface. The unit from Vacaresti has a total surface of 364 sqm, out of which 243 sqm is selling room. On Friday, the retailer ...

Romania's Tarom H1 loss exceeds plans eightfold, seen sharply down by end-2016

Wednesday, August 24, 2016

Romanian flag carrier Tarom said on Friday it posted a 28.6 million lei ($7.2 million/ 6.3 miilion euro) loss in the first half of 2016, eight times higher than planned, due to technical problems, but is confident it will end the year with only 6.9 million lei loss, seenews.com informs. Tarom was expecting a 3.4 million lei loss for the first half of the year, according to its annual budget. "Unforeseen losses were mainly due to ...

DPD invests 1.5 mln euro in new logistics centre

Wednesday, August 24, 2016

Courier services provider DPD Romania said on Friday it has invested 1.5 million euro ($1.69 million) in a new logistics centre near the capital Bucharest, seenews.com informs. The centre will have a sorting capacity of 70,000 parcels per day, the company said in a press release. This autumn, DPD will also expand its logistic capacity in Sibiu, in central Romania, to 50,000 parcels per day. In February, ...

Daimler invests 13 mln euro in new production facility in Romania

Wednesday, August 24, 2016

German car maker Daimler said on Friday that, together with its Romanian subsidiary Star Transmission, has invested 13 million euro ($14.7 million) in a new production facility for high-pressure pipelines in Cugir, central county of Alba, seenews.com reads. Daimler will make 17 different types of high-pressure pipelines for 5 types of petrol engines in the new 4,000 sq m unit, which employs 150 people, it said in a press release. In April, Daimler ...

National Mineral Waters Company has 4.95 million lei worth of investments for next 4 years

Wednesday, August 24, 2016

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The National Mineral Waters Company (SNAM) has 4.95 million lei worth of investment plans for the coming four years, with the highest amount - 1.35 million lei - due in 2020, according to SNAM strategy estimates. Total investments for 2017 are estimated at ...

Romanian Association of Online Stores has a new executive director

Wednesday, August 24, 2016

The Romanian Association of Online Stores (ARMO) has announced the appointment of Florinel Chis as its new executive director, business-review.eu informs. He has an experience of over 14 years in e-commerce, locally and at international level for companies from Fortune 500. “The online commerce is in a strong development stage and I’m convinced that it will become quickly a common destination for most of the Romanian clients. ARMO is ...

UK's Petrofac Romania takeover by Expert Petroleum gets antitrust nod

Wednesday, August 24, 2016

Romania's anti-trust body said on Wednesday that it has approved the takeover of UK-based energy services group Petrofac Romania by Romanian oil fields rehabilitation company Expert Petroleum, seenews.com reports. "Following a review of the transaction, the Competition Council found that it does not raise significant obstacles to effective competition in the market, " the anti-trust body said in a statement. In February, ...

Net profit of 3.5 million euro for the Posta Romana after the first half of this year

Wednesday, August 17, 2016

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The National Company Posta Romana recorded in the first six months of 2016 a net profit of 15,8 million lei (3,5 million euro) up by 2.5 % against the first six months of 2015, the company informs on Wednesday. The gross profit was 19.6 million lei (4.4 million euro) up by 5% against the similar period of last year. In the respective interval there were growth of the majority of the income categories. Thus, the income from ...

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