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Evadix to sell flexible packaging business in Romania to Bemis

Wednesday, September 13, 2017

Belgian polymer printing services group Evadix said it will sell its Romanian subsidiaries Labels and MPI to US-based plastic packaging manufacturer Bemis for 3.3 million euro ($3.98 million), seenews.com informs. The transaction is expected to be completed in the fourth quarter of 2017, Evadix said in a press release on Sunday. The acquisition will enable Bemis to increase its ability to produce and process packaging films in ...

Communications ministry's Control Body sent to the Romanian Post National Company

Wednesday, September 13, 2017

Minister of Communications and Information Society Lucian Sova on Monday morning requested the resignation of all members of the Romanian Post Company's Board of Directors, as well as of Post acting managing director Andrei Stanescu, due to last year's bad management, reads a release of the relevant ministry ...

PM Tudose after meeting Ford officials: Romania is a favorable environment for investments’ growth

Wednesday, September 13, 2017

PM Mihai Tudose met this Friday with a delegation of Ford company led by the vice-president Andrew McCall, business-review.eu informs. The meeting is part of the constant dialogue between the Government and the business environment representatives, according to a Government release. According to the source, McCall discussed about the implementation stage of Ford’s investment at Craiova, including the creation of 1,700 new jobs announced ...

ENEL IN TOP 20 OF FORTUNE’S “CHANGE THE WORLD” LIST

Wednesday, September 13, 2017

The Group is the only utility and only Italian company in the list Enel ranks 20th in Fortune’s 2017 “Change the World” list, a ranking of the top 50 businesses in the world that had a positive social impact through activities that are part of their business strategy and operations, the company informs în the pressrelease sent to ACTMedia. The Group is the only utility ...

Coface: Romania ranks 4th, with 65 companies in Top 500 large companies in Eastern Europe

Wednesday, September 13, 2017

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Automobile Dacia, OMV Petrom Marketing and OMV Petrom are the Romanian companies on the highest positions among the ones listed in the Top 500 Companies in Central and Eastern Europe (13th, 22nd and 31st positions respectively), presented on Wednesday by Coface and based on the turnover criterion, romaniajournal.ro reads. In the top rank first PKN Orlen (Poland), Skoda and MOL (Hungary), and the countries with most companies in the rankings are Poland ...

Turkish telecom operator Euroweb ups turnover 20% in Romania

Wednesday, September 13, 2017

Telecom operator Euroweb Romania, the local subsidiary of the Turkish group Turk Telekom International, recorded a 20% increase in its turnover in the first six months of this year compared to the same period in 2016, romania-insider.com reports. The company estimates that it will exceed its EUR 9 million sales target for this year, ...

Opportunity costs of potential investments, foreigners main concern

Wednesday, September 6, 2017

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Fiscal instability that has been mastering Romania in the past months significantly contribute to the deterioration of the foreign investors confidence, in a global context in which the confidence of emerging economies is dropping, following modest evolutions of global economic activities, and of political uncertainties and geopolitical tensions, says Ruxandra Popescu, policy expert on credit risk at European Banking Authority (EBA). The present ...

Postal services market goes up 8% in Romania

Wednesday, September 6, 2017

The postal services market went up by 8% last year, reaching RON 2.6 billion (EUR 570 million), according to the local telecom regulator ANCOM, romania-insider.com reports. Some 236 companies operated on this market last year. The top ten players had a share of 87% of the turnover on this market. The volume of postal items processed in Romania went down by 15% last year, to 554 million. The number of items ...

Study: Romanian SMEs trading internationally have more confidence in the economy

Wednesday, September 6, 2017

Romanian SMEs trading internationally have more confidence in the economy and could create additional jobs, reads a research conducted by Facebook, the Organization for Economic Cooperation and Development (OCDE) and the World Bank. "Small businesses ...

Chinese ambassador's visit to the County of Dambovita spearheads Chinese investments at local level

Wednesday, September 6, 2017

 The Chinese ambassador in Bucharest Xu Feihong on Tuesday said in a press statement in Targoviste (northwest of Bucharest) that he talked with the local authorities about the cooperation in agriculture, home appliances manufacturing, stressing that his visit to the County of Dambovita spearheads Chinese investments at local ...

Immofinanz made income out of rent of 24,6 million euro in Romania in Q1

Wednesday, September 6, 2017

Immofinanz, one of the most important players on the real estate market in Romania reported for Q1 income out of rent in Romania worth 24,6 million euro which represents 21.4% of the income of total rent at the level of the group, according to the data reported by the group on Wednesday. The Immofinanz properties of Romania represent 20.7% of the total portfolio of the company, without the assets of Russia. ‘The 72 ...

New Move at Tactical Missile Sphere

Wednesday, September 6, 2017

The European missile systems manufacturer MBDA has signed a Memorandum of Understanding (MoU) with Romanian defence group Romarm and its subsidiary Electromecanica Ploiesti that permits them to define and present the best French proposal for tactical missile systems, i-hls.com informs. The MoU was signed in response to the operational requirements of the Romanian Armed Forces for land based air defense systems. The MoU was signed during the visit of ...

Renault’s future Bucharest HQ to be ready by 2019

Wednesday, September 6, 2017

Representatives of French car producer Group Renault Romania and real estate developer Globalworth officially kicked off the construction of Renault’s future headquarters in Bucharest, romania-insider.com informs. Renault Bucharest Connected (RBC) will bring together all the group’s activities in Bucharest. The future seven-floor headquarters will be located in Western Bucharest. It will cover ...

Coface Romania: Insolvencies in H1, at the minimum of the last 10 years, losses – at the highest level

Wednesday, September 6, 2017

The number of insolvencies in the first half of the current year is at the minimum of the last ten years, but the losses generated to the creditors are at the highest level in the period analysed, Coface informs in a press release quoted by romaniajournal.ro. Although the number of insolvencies in the first semester of 2017 is similar to that of the last year, namely 4,442 new proceedings, the companies with a turnover of more than EUR 1 million which ...

GE opens new Bucharest software center, launches recruitment campaign

Wednesday, September 6, 2017

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GE kicked off today the recruitment campaign for GE Power’s Grid Software Solutions (SWS) center in Bucharest, business-review.eu informs.  The company intends to hire highly skilled IT specialists in the coming years. Available jobs range from middle to senior positions in technical leadership, software integration and SCADA (Supervisory Control and Data Acquisition) software engineering. The SWS center was ...

Dacia, Romania’s most valuable brand, worth EUR 1.2bn

Wednesday, August 30, 2017

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Dacia is the most valuable Romanian brand, worth  EUR 1.2 billion, while Dedeman is the most valuable brand with 100 percent Romanian shareholding, at EUR 206 million, business-review.eu reads. The ranking was released by global valuation and strategy consultancy Brand Finance in its debut Brand Finance Romania 50 report. The automotive brand Dacia, revived after the 1999 takeover by Renault, is the most valuable Romanian brand of 2017, and ...

Eurolines group joins the German bus operator FlixBus

Wednesday, August 30, 2017

Eurolines Group, controlled by Romanian entrepreneur Dragos Anastasiu, has joined forces with Germany’s leading long-distance bus operator FlixBus, making, thus, its entry on the Romanian market, as of September 1, romaniajournal.ro informs. Following this partnership, Eurolines’ international lines from countries such as Germany, the Czech Republic, England, Italy, Spain or France will be integrated into the FlixBus route network. This ...

IAR selected as prime contractor for Airbus H215M helicopters in Romania

Wednesday, August 30, 2017

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Romanian company IAR has been selected as the prime contractor for Airbus Helicopters’ H215M multi-role helicopter for future orders placed by the Romanian Ministry of Defense, airforce-technology.com comments. The companies have extended the five-year agreement by ten more years to show their long-term joint commitment to the modernisation of the Romanian armed forces’ fleet of multi-role helicopters. Airbus ...

IT company Bittnet Systems to buy local peer Gecad Net

Wednesday, August 30, 2017

Romanian IT company Bittnet Systems [BSE:BNET] said on Friday its shareholders approved the acquisition of local peer Gecad Net, part of Gecad Ventures, formerly known as Gecad Group, for an undisclosed sum, seenews.com informs. The estimated closing date of the transaction is September 30, Bittnet Systems said in filing with the Bucharest Stock Exchange, BVB. In the first stage of the acquisition, Bittnet will take part in the ...

GF to acquire high pressure die casting specialist in Romania

Wednesday, August 30, 2017

GF Automotive, a division of GF, announces the acquisition of Eucasting Ro SRL, a high pressure aluminum die casting specialist with two productions sites in Romania, automotiveworld.com reads. The acquisition follows GF Automotive’s strategy to expand its presence in the growing light metal components business. Eucasting was founded in 1960 in Italy by the family Mapelli. In 2006, the company started the expansion to Romania with a die casting ...

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