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Uzina Automecanica Moreni and Rheimetall Landsysteme signed joint venture Romanian Military Vehicle Systems

Wednesday, June 21, 2017

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The Romanian armoured vehicles builder  Uzina Automecanica Moreni (UAM) signed with the German company Rheinmetall Landsysteme the founding document of the joint venture Romanian  Military Vehicle Systems (RMVS) for the building of armoured vehicles 8x8, announced on Thursday the ministry of economy. In November 2016, UAM signed with Rheinmetall Landsysteme the agreement of the shareholders for the setting up of joint ...

Nokia inaugurates 73 mln euro telecom R&D centre in Romania

Wednesday, June 21, 2017

Finland-based multinational communications and information technology company Nokia inaugurated on Tuesday its telecom research and development (R&D) centre in Timisoara, western Romania, following investment of 73 million euro ($81.4 million), seenews.com informs. Since 2015, when it took over French telecommunications equipment company Alcatel-Lucent's operations in Timisoara, Nokia has been in the middle of a relocation and expansion process it ...

Colliers International to manage building of largest private hospital in Romania

Wednesday, June 21, 2017

Real estate consultancy company Colliers International was assigned by the Hili Properties group to provide property management services for the Art Business Center office project, which houses the largest private hospital in Romania, business-review.eu reports. After the assignment, Colliers International reached a managed portfolio of over 280.000 leasable sqm and entered a new segment, that of private ...

IBM to open fourth business services center in Romania

Wednesday, June 21, 2017

American IT giant IBM will open a new business center in Cluj-Napoca this July. This will be the fourth such center operated in Romania after those in Bucharest, Brasov and Timisoara, business-review.eu reads. The Cluj-based center will be located in Liberty Technology Park, the office complex developed by Ioan Sturza, the president ...

Finnish group Patria wants to make armored vehicle in Romania

Wednesday, June 21, 2017

Finnish group Patria, a provider of technology solutions and services in the field of defense, has recently submitted to the Romanian authorities the project for the production and financing of the 8×8 Patria AMV armored vehicle, romania-insider.com informs. According to the project, the 8X8 armored vehicle would be produced in Romania with an important involvement of the Romanian defense industry from the initial stages of implementation, ...

Orange Romania names Muller as HR director

Wednesday, June 21, 2017

Orange Romania named Luiza Muller as its HR director, effective from 1 July. Muller takes over the responsibilities of Ioana Marcu, who decided to leave the company for a new professional challenge. During his tenure at Orange, Marcu played a key role in coordinating major projects, the operator said. Muller joined Orange Romania in 1998 as Senior Accountant and was promoted to roles such as Accountant Coordinator and Accounting Manager. For nearly 9 years, she has been the ...

FONDUL PROPRIETATEA REQUESTS THE REVOCATION OF FOUR MEMBERS OF HIDROELECTRICA’S SUPERVISORY BOARD

Wednesday, June 21, 2017

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  Fondul Proprietatea (“the Fund”) has requested the convocation of Hidroelectrica’s ordinary shareholders’ meeting in order to ask shareholders to replace four members of the Supervisory Board (”Board”), a press rlease sent to ACTMedia informs. The four members are: Ioana Andreea Lambru (President of the Supervisory Board), Laurentiu Dan Tudor (Member), Horia Marian Gambuteanu (Member) and Andreea Negru Ciobanu ...

Romanians set up 23 pct more firms in first five months of 2017

Wednesday, June 21, 2017

Romanians set up 63,374 firms in the first five months of 2017, up by 23 percent compared with the same period of 2016, especially due to the increase by almost 24.2 percent of limited liability companies (SRL), according to the statistics published on Friday by the National Trade Registry (ONRC), business-review.eu informs.During January-May, in Romania there were 51,510 newly registered firms, according to News.ro. In the first ...

FrieslandCampina Romania’s turnover up 4 pct to RON 331 mln in 2016

Wednesday, June 21, 2017

FrieslandCampina Romania registered a turnover of RON 331 million, a growth by 4 percent compared with 2015 and recorded a profit, business-review.eu reports. This was due to the finalization of  production operations consolidations and implementation of extensive investments program in the two factories from Cluj-Napoca and Targu Mures. The results of the company were supported by ...

Continental will hire 1500 people in Romania this year

Wednesday, June 14, 2017

Continental wants to increase the number of employees in Romania by 1,500 people, this year. The company announces that they need software experts. The representatives of Continental say that this year they will hire 1,500 people in the seven units of production and four centres of research and development in Romania. ‘The sector automotive is under continuous change.It is  necessary to have software experts, as well ...

Romanian ops of KFC, Pizza Hut, Pizza Hut Delivery move under Sphera Franchise Group

Wednesday, June 14, 2017

US restaurants chains KFC, Pizza Hut and Pizza Hut Delivery units in Romania will operate under Sphera Franchise Group, the newly created company said on Monday, seenews.com informs. The new group will also include fast food chain KFC's operations in Moldova and in the northeastern part of Italy, Sphera Franchise Group said in a press release. Prior to the creation of the new company, the three fast-food chains were part of the ...

Avangate to hire 45 IT specialists for its office in Romania

Wednesday, June 14, 2017

Avangate (soon 2Checkout), the global eCommerce and subscription billing platform for software, SaaS, and digital solutions, with Romanian roots, which recently acquired the 2Checkout global payment processor, will hire 45 IT specialists for the Romanian office in the next two months, romaniajournal.ro informs. According to a press release, most of the positions target young professionals who want to specialize in activities such as risk analysis and ...

GlaxoSmithKline to invest EUR 10 million in Romania

Wednesday, June 14, 2017

According to GlaxoSmithKline Romania General Manager Andre Vivan da Silva, the company will invest EUR 10 million in Romania over the next couple of years, business-review.eu informs. “Our company has a strong footprint in Romania,” da ...

FONDUL PROPRIETATEA WARNS ON THE ‘BLACK LIST’ OF SOEs THAT MAY BE EXEMPTED FROM THE LAW ON CORPORATE GOVERNANCE

Wednesday, June 14, 2017

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 On June 6th, 2017, the Senate voted for a list of Romanian state-owned companies, including CE Oltenia (a supplier of one third of the country’s electricity needs), to be exempted from the law on corporate governance, a statement sent by Fondul Proprietatea reads. At the time of writing, the draft law was on its way to the Chamber of Deputies which is the final decision-making body approving this exemption. In addition, we are legitimately concerned that the list ...

Turkish Exporters' Assembly: 14,000 Romanian-Turkish joint ventures in Romania

Wednesday, June 14, 2017

 Turkey is Romania's top-ranking extra-EU trading partner, which is why we attach special attention to the economic partnership with your country, Secretary of State with the Ministry of Business Milieu, Commerce and Entrepreneurship Stelica Fudulea said on Tuesday, attending the conference organized by the Turkish Exporters' ...

Romania's Teraplast acquires Serbian sandwich panel maker

Wednesday, June 14, 2017

Romanian plastic products manufacturer Teraplast [BSE:TRP] said on Wednesday it has acquired Serbian sandwich panel producer Interlemind for 4.3 million euro ($4.8 million), seenews.com reports.  "Teraplast will invest this year 11 million euro in Serbia, amount that includes the value of the plant acquisition, investments of 2.7 million euro in development and working capital of 4 million euro," the Romanian company said in a ...

Turnover of Romania's software and IT services sector increased 11.3 pct în 2016

Wednesday, June 7, 2017

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The turnover of Romania's software and IT services sector last year increased 11.3 pct to 3.6 billion euro from 2015 and forecasts show that in 2017 the industry will exceed 4 billion euro, shows the 4th edition of the Software and IT Services in Romania report released on Tuesday by the Software and Services Industry Association ...

Dedeman buys AFI Park for EUR 164 M

Wednesday, June 7, 2017

AFI Europe signed a pre-agreement to sell AFI Park 1-3 office buildings to Dedeman, the leading company in Romania in the DIY retail segment, a press release informs. The agreement also includes an option to sell AFI Park 4&5. The total price for AFI 1-5 is approx. EUR 164 million. “Once this transaction is completed, it will be AFI Europe’s first sale transaction in Romania. An important milestone from our point of view as an ...

CEO of ArcelorMittal Galati : We can produce the entire amount of steel necessary to carry out the BRUA gas inter-connector

Wednesday, June 7, 2017

ArcelorMittal can produce at southeastern Galati the entire amount of steel necessary to carry out the BRUA gas inter-connector (Bulgaria-Romania-Hungary-Austria), Bruno Ribo, CEO of ArcelorMittal Galati told ...

60 pct of Romanian companies plan to increase their cybersecurity budget in the next financial year

Wednesday, June 7, 2017

About 60 pct of Romanian companies plan to increase their cybersecurity budget in the next financial year, 20 pct want to maintain their budget at the current level and 23 pct don't yet have a clear idea of their future budget, found the Security in the Digital World survey by PwC Romania and Microsoft Romania released on ...

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