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Active dealmakers on the local market

Wednesday, November 9, 2016

The financial and retail sectors have seen some deals that have involved Polish players in the past few years. For instance, last year AmRest Holdings took over the Starbucks franchise in Romania and Bulgaria, in move estimated at EUR 16 million. This summer, the Polish operator of the franchise reported a 25 percent increase in gross earnings in Romania, the highest among countries where AmRest operates the coffee shop ...

EY: Romania exits Top 40 on most attractive renewable investment destinations

Wednesday, November 9, 2016

Romania is not among the 40 most attractive destinations for renewable investments, according to a report by professional services firm EY, quoted by business-review.eu. The country has lost its 34 place that it had last year and is not among the most attractive markets for new green energy investments. “The drastic correction of the support scheme for electricity produced from renewable sources and the uncertainties ...

Newly established companies on foreign capital in the first nine months of 2016 went down 11.6 percent

Wednesday, November 9, 2016

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The number of newly established companies on foreign capital in the first nine months of 2016 went down 11.6 percent, compared with the similar period of last year, to 3,946 companies, according to the National Trade Registry Office (ONRC) ...

Sanofi head in Romania says company remains committed to local market despite planned sale of Zentiva plant

Wednesday, November 9, 2016

The French group Sanofi has announced that until theZentiva plant in Bucharest will be sold, as part of the strategy to spin-off its generics drugs operations in Europe, the company will continue to operate as usual, business-review.eu reports.  Emmanuelle Valentin, general ...

RE/MAX Romania opens first office in Constanta

Wednesday, November 9, 2016

RE/MAX Romania has entered the Constanta real estate market by opening its first office following an investment that exceeds EUR 20,000, business-review.eu informs. Opened in October, the RE/MAX Prestuge office is owned by Nicoleta Mihai. According to Mihai, at beginning 2016 in Constanta the supply of properties put up for sale, namely 3,000 properties, exceeded the demand. “That is why, the real estate market ...

Renault Group to have new HQ building in Bucharest by 2019

Wednesday, November 9, 2016

Renault Romania Group has announced that it will relocate its employees in a new office building in the western part of Bucharest by 2019, business-review.eu informs. „When we chose the location we took into account both the daily mobility of our colleagues towards other locations of the Group, the industrial platform from Mioveni and the technical center Titu through the exit on the Bucharest- Pipera highway,” said Yves Caracatzanis, ...

Netherlands company 3D Hubs acquires Romania printing startup Printivate

Wednesday, November 9, 2016

Dutch 3D printing marketplace giant 3D Hubs is buying Transylvanian startup Printivate, the companies announced last week, geektime.com informs. Printivate Founder and CEO Adrian Muresan will become 3D Hubs’ ...

Olympus milk factory in Romania works at 60 percent of total capacity

Wednesday, November 9, 2016

Dairy maker Olympus uses its milk factory from Halchiu, Brasov, at 60 percent of its total capacity, since opening it five years ago, business-review.eu reports. The milk factory constructions from Halchiu was finished in 2011 with a greenfield investments estimated at EUR 55 million. The factory has a surface of 25,000 square meters and has a modern technology for the reception and processing of milk at European ...

Greg Konieczny: Hidroelectrica, Bucharest airport, Constanta Harbour and Salrom should be on the stock exchange as soon as possible

Wednesday, November 2, 2016

Hidroelectrica, Bucharest airport, Constanta harbour and Salrom should get on the stock exchange as soon as possible, stated on Monday Greg Konieczny, the vice chairman of Templeton Emerging Markets Group and manager for portfolio of the Fond Proprietatea in a press conference. ‘We had an increase of the net assets of 1% and the main contribution came from the non-listed state-run companies Hidroelectrica, Bucharest airport and Constanta harbour, ...

The rate of new companies will increase by at least 30-35 percent following the elimination of some fees and duties

Wednesday, November 2, 2016

The new companies setting up rate will grow on average by 30-35 percent following the elimination of fees approved by Parliament at the end of October, a release of the National Council of Private SMEs in Romania (CNIPMMR) remitted on Tuesday ...

Billa supermarkets will disappear from Romanian market by next year

Wednesday, November 2, 2016

By the end of 2017, Billa supermarket brand will disappear from Romanian market, internationalsupermarketnews.com reports. Jean Baptiste Dernoncourt, Executive director of the French group Carrefour in Romania said that the Billa stores will operate under the Carrefour brand. Carrefour took over the Billa network of 86 supermarkets from its previous owner German group Rewe in 2015. Supermarkets Billa Romania has a turnover of EUR 300 million and 3,000 ...

Lidl increases wages in Romania and Slovakia

Wednesday, November 2, 2016

German discounter Lidl has increased its minimum wage by 30% in Romania, internationalsupermarketnews.com informs.  The supermarket has also increased its salaries in Slovakia which would benefit its 3,800 work force in the country. Lidl Romania has about 4,000 employees in the country. Lidl increased the minimum wage in Romania with effect from 1st of October. Any full-time employee, whether working in shops or warehouses earns at least ...

Profi reaches 468 stores in Romania

Wednesday, November 2, 2016

Profi opened last week week six new stores in Timisoara, Matasari, Buzau, Alexandria and Telciu, reaching a network of 468 operational units across the country, business-review.eu reports. In Timisoara, the Profi network has two new stores, both in City format. One has a sale surface of 160 square meters and the other one has a surface of 200.61 sqm. Profi has also launched a new store in Matasari, Gorj county,  in the ...

Mirela Iordan named new country manager of Pfizer Romania

Wednesday, November 2, 2016

Drugsmaker Pfizer Romania will have a new head as of November 1, business-review.eu reports. Mirela Iordan, the former HR head of the company, will become the new country manager, replacing Nolan Townsend, who was named president of the rare disease division for developed markets. In her new management role, Iordan will work with key stakeholders on the local market to make sure that Romanian patients have access to the latest treatments, according to ...

PM Ciolos: If necessary, the Government will step in to solve the situation at Posta Romana

Wednesday, November 2, 2016

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If necessary, the Government will step in to solve the situation at Posta Romana, Prime Minister Dacian Ciolos on Monday told employees of the Romanian Post who were waiting for him to come out of the USAMV Cluj-Napoca to voice their dissatisfaction in connection with the denial by the company to raise salaries of the postal ...

Romania's AdePlast 9-mo turnover up 17%, exports grow strongly

Wednesday, November 2, 2016

Romanian building materials producer AdePlast said on Wednesday its nine-month turnover increased 17% to 277 million lei ($67.1 million/ 61.5 million euro, as exports surged, seenews.com reports. "This is an extremely good result for a company of our size and for the market we operate on. For this year we aimed to maintain our market share, but we did much more than that," AdePlast owner Marcel Barbut said. Exports rose 55% ...

Romanian business sentiment improves in manufacturing, worsens in construction

Wednesday, November 2, 2016

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Company managers in Romania expect growth in manufacturing, services and retail in November and December, and contraction in construction, the national statistics office (INS) said on Friday quoted by seenews.com. Managers from the manufacturing sector expect moderate growth in production volumes, up to 6%, with a sharp increase in pharmaceuticals, INS said in a monthly business sentiment survey. Managers also expect a 21% ...

ONRC: 5,987 companies entered in insolvency in the first nine months of 2016

Wednesday, November 2, 2016

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A number of 5,987 companies entered in insolvency in the first nine months of 2016, declining by 20.96 percent compared to the same period of 2015, the data of the National Trade Register Office (ONRC) ...

Services rank second in top insolvencies after opening procedures for RADET and Hidroserv (analysis)

Wednesday, November 2, 2016

The insolvency of RADET and Hidroserv determined the advance of services to the second place in the top of insolvencies in Romania, after industry, which represents 55% of total, according to an analysis made by the Insolvency House Transylvania (CITR). In the first half of the year, services represented 18% of insolvencies in Romania, according to the value of immobilised shares and ranked third in the top next to real estate and when RADET and ...

ArcelorMittal will continue to invest in the steel production in Galati

Wednesday, October 26, 2016

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ArcelorMittal will continue to invest in the steel production in the unit in Galati, after the investments of 400 million euro from 2009 to the present, a letter addressed to the employees in Galati says sent by Lakshmi Mittal, chairman and general manager of the siderurgy unit. ‘October 2016 represents an important moment in the history of ArcelorMittal Galati. 50 years ago, the first thick sheet was produced here and delivered to the client. As ...

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