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Bayer appoints new Crop Science Country Division Head for Romania, Bulgaria & Moldova

Wednesday, February 22, 2017

Bayer has appointed Pascal Cassecuelle as the new Crop Science Country Division Head for Romania, Bulgaria & Moldova, business-review.eu informs. Cassecuelle took over as of February 1st, from outgoing country head, Hernan Mora, who will continue his activity in Argentina. Pascal Cassecuelle is 47 years old, a graduate of Paris Business School (ESCP-EAP). Having started in sales in France, Pascal assumed various country and global leadership ...

168 million euro business figure at Oltchim

Wednesday, February 22, 2017

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Oltchim Ramnicu Valcea chemical plant reported a business figure of 168 million euros in 2016, almost the same level as in the previous year and loss of 2.5 million euros, according to preliminary data supplied by BVB on Wednesday (Bucharest Stock Exchange). “Although sold output has significantly grown in quantity, the business figure obtained in 2016 - 168 million euros- is about the same as in 2015, because of lower sales prices of finished ...

Alro reports a preliminary adjusted net profit of more than RON 100 million, in 2016

Wednesday, February 22, 2017

Financial and operational highlights : Turnover of RON 2.1 billion, compared to RON 2.3 billion in 2015 Operating profit of RON 170 million, compared to RON 157 million in 2015 Primary aluminium sales of 154,000 tonnes, compared to 145,000 tonnes in ...

Transelectrica ended 2016 with a net profit down 20.7 pct from the year before

Wednesday, February 22, 2017

 National power grid company Transelectrica ended 2016 with a net profit of 285.511 ml lei, down 20.7 pct from the year before, according to provisional financial data for the reporting period ending December 31, 2016 sent to the Bucharest Stock Exchange. Company revenues amounted to 2.722 bln lei, 8.76 pct lower from 2015. Electricity transmission was the major source of revenues, with 1.146 bln lei, while revenues from system services amounted to ...

Airbus Helicopters to make a Romanian center of excellence for production of H215 aircraft

Wednesday, February 22, 2017

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Airbus Helicopters, which inaugurated last year the new helicopter plant from Ghimbav, Brasov, for an EUR 52 million investment will make Romania a center of excellence for the production of H215 aircraft, said Olivier Michalon, senior vice president for Europe region at Airbus Helicopters on Tuesday to ...

Direct One closes the acquisition of Netcity Telecom

Wednesday, February 22, 2017

Direct One S.A. has closed its acquisition of Netcity Telecom, the operator of the underground fiber optic infrastructure network of Bucharest from its former owners – UTI Netcity Investments BV and UTI Grup SA. The Netcity acquisition ends a process started in 2015 by Direct One, an independent and neutral provider of fiber optic infrastructure. The acquirer, part of Electrogrup group of companies, which is controlled by the Romanian entrepreneurs Teofil Mure?an and ...

FDI into Romania rises to post-crisis high

Wednesday, February 15, 2017

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Foreign direct investment (FDI) into Romania increased 18% last year, reaching 4.08 billion euro ($4.3 billion) - its highest value since 2008, the central bank, BNR, said on Monday, seenews.com informs. Equity investment amounted to 3.899 billion euro and inter-company lending recorded a net value of 182 million euro in 2016, the BNR said in a statement citing provisional data. FDI into Romania totalled 9.5 billion euro in ...

Romcab files for insolvency

Wednesday, February 15, 2017

Romanian cables and electric conductors manufacturer Romcab [BSE:MCAB] said on Monday it has filed for insolvency in order to come up with a plan for recovery. "After exhausting other options to weather the difficult times in which we find ourselves, we inform you of our intention to initiate proceedings for judicial reorganization as the solution we have identified for the recovery of Romcab's business in an efficient and effective manner," Romcab ...

Cosmetic Plant’s business increased by 17% in 2016 reaching over 10,4 mil. RON

Wednesday, February 15, 2017

Cosmetic Plant, one of the most important local producers of cosmetics, registered in 2016 an increase in business of circa 17% compared with 2015, and for this year anticipates another increase of at least 10%, the company informs in a press release sent to ACTMedia. Thus, the Cluj-based company, reported an over 10.4 million RON (2.3 million Euros) business, an increased value compared with 2015 when the company registered a turnover of ...

Vodafone Romania launches campaign celebrating its 20 years anniversary

Wednesday, February 15, 2017

Vodafone Romania launches the campaign celebrating its 20 years anniversary, by offering free unlimited data traffic on February 14, 2017, to all its mobile customers, business-review.eu informs. Thus, the operator’s more than 8.7 million mobile prepaid, postpaid and enterprise users will have free unlimited access to browsing, streaming and social media in Supernet™ 4G+ on Valentine’s Day. “This is ...

Nicoleta Eftimiu, named franchise country manager Coca-Cola Romania and Moldova

Wednesday, February 15, 2017

Soft drinks maker Coca-Cola has announced the appointment of Nicoleta Eftimiu as the head of the operations of the company in Romania and Moldova starting January, business-review.eu informs. She will take the position of franchise country manager, the most important role of the company in Southeastern Europe. Eftimiu had previously held the role of marketing director at Coca-Cola. She has worked in the past 19 years directly or indirectly for the ...

Creation of firms with foreign capital in Romania hits 18-year low in 2016

Wednesday, February 15, 2017

Romania registered in 2016 the smaller number of new firms with foreign capital out of the last 18 years, according to the National Trade Registry Office (ONRC), business-review.eu informs. Thus, 5,348 firms with foreign capital were founded last year, a drop from 5,831 units in 2015. After 1991, the most companies were set up in 2007, of over 15,000 firms with foreign capital. At the opposite side, the fewest firms (3,400) in this category were ...

Orsova Shipyard ended 2016 with a net profit of over 2.79 million lei

Wednesday, February 15, 2017

The Orsova Shipyard ended 2016 with a net profit of over 2.79 million lei, up six times from the previous year, according to data released on the website of the Bucharest Stock ...

Companies in the defence industry can invest 60 percent of the amounts

Wednesday, February 15, 2017

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Economy Minister Alexandru Petrescu announced on Thursday that, according to a normative act adopted by the Government, the companies in the defence industry will be able to invest in modernisation and re-technologisation 60 percent of the amounts obtained by capitalising on ...

‘No comment’ on Romania €1bn deal rumour

Wednesday, February 15, 2017

Reports from Bucharest say OTE may sell Telekom Romania but OTE and potential purchaser Orange refuse to comment, globaltelecomsbusiness.com informs Orange and Greek operator OTE are refusing to confirm or deny a report in a Romanian financial newspaper that Telekom Romania is up for sale.The report says Orange is talking about acquiring the fixed network, while cable operator RCS-RDS is ...

Romanian businesses spent on average 115 euros for the training of an employee în 2016

Wednesday, February 15, 2017

Romanian businesses last year spent on average 115 euros for the training of an employee, up 5 percent from 2015, provider of leadership and human resources solutions HPDI said in a ...

ALD Automotive Romania appoints Daniela Davidescu as operations director

Wednesday, February 15, 2017

Starting January 3, Daniela Davidescu, former director of the Contact Center within BRD, the Romanian subsidiary ofSociete Generale group, was appointed Operations director atALD Automotive Romania, business-review.eu reports. Davidescu will be responsible for the administration of acquisition and delivery services of new cars, post-sales services (maintenance, insurances, assistance, tires, customer care, etc) and sales activities of the used ...

ELCEN, RADET, Polisano, CE Hunedoara and CET Govora, the biggest insolvencies in 2016

Wednesday, February 8, 2017

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Electrocentrale Bucuresti (ELCEN), the Autonomous Company for the distribution of therman energy Bucharest (RADET), Polisano SRL, theEnergy Complex Hunedoara and CET Govora are the biggest companies, according to their fiscal value, which got into insolvency in2016 according to the data announced by Coface Romania. As a whole, the number of big companies, with fiscal value of over one million euro which got into insolvency last year are 333, dropping ...

UNPR: Romania must " urgently open the gates of dialogue” to return to a state of normality

Wednesday, February 8, 2017

The National Union of Romanian Employers (UNPR) requests all responsible and decision-making factors of Romania "to urgently open the gates of dialogue among themselves", because this is the only way the best solution for Romania can be sketched. "We make an appeal to the Romanian Presidency, to Romania's Parliament and Government, the representatives of all the important state institutions, of the business milieu and of civil society to urgently open the ...

ERT’s Benchmarking Report 2016: Innovation, digitisation and integrated, open markets are key to Europe’s future competitiveness.

Wednesday, February 8, 2017

Industry remains the backbone of the European economy, contributing more than 30% of GDP growth and more than 80% of private R&D spending, a press release sent to ACTMedia informs. Current times are challenging both globally and in Europe. Anti-globalisation and protectionism are on the rise; people are increasingly concerned about whether Europe offers prosperity and a fair participation for its ...

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