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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 ...

Food Union Group receives EUR 214 mln investment from PAG and meridian capital

Wednesday, February 8, 2017

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Food Union Group, an international group of dairy and ice cream producing companies, and the owner of Romania’s ice cream manufacturer ALPIN57LUX, as well as the leading ice cream manufacturer in the Baltics, has received a combined EUR 214 million (USD 225 million) investment from PAG, one of Asia’s largest private equity firms, and Meridian Capital, an existing investor, a statement sent to ACTMedia ...

CEMACON ended 2016 with a turnover of 20 ml lei

Wednesday, February 8, 2017

Ceramic blocks manufacturer CEMACON ended 2016 with a turnover of 20 ml lei, by 28 pct higher against the previous year, and a net profit of five million lei (rd 1.1 million euro), the company said in a release. "We end a spectacular year, as 2016 was the best on the record for CEMACON. We hit major highs in all business aspects: we doubled our estimated growth target as the turnover went up 28 percent as a result of our capitalizing on domestic and market ...

8,371 of companies entered insolvency în 2016

Wednesday, February 8, 2017

A number of 8,371 of companies entered insolvency last year, decreasing 18.48pct from 2015, according to the data of the National Trade Register Office (ONRC). Most of such cases were registered in Bucharest Municipality, namely 1,771 (-2.48pct compared to the period January-December 2015), the Capital being followed by Bihor county, with 422 (+2.3pct), and Timis county with 406 (+17.81pct). Depending on the activity sector, most of the insolvencies were ...

Publicis Romania/Publicis One, ranked first in Romania on number of awards from 2016

Wednesday, February 8, 2017

Publicis Romania/Publicis One is ranked first in the Romanian top agencies, based on the number of awards received at the international advertising festivals in 2016, according to the Gunn Report, which tracks the most awarded agencies, networks, clients and ads, business-review.eu informs. “Our agency has grown very much in the digital, strategy and creativity areas. I’m very proud of all the Publicis team, which ...

Erik Hageleit appointed Hochland Romania's general director

Wednesday, February 8, 2017

Erik Hageleit has been appointed as the new general manager of Hochland Romania, one of the biggest players on the local dairy market, as of January 1. “I am truly honored to join Hochland Romania as general manager and I am glad to return to Romania. It is a country where I enjoyed working and living, a place filled with first class professionals. I am very impressed with Hochland’s achievements in Romania ...

Japan’s ROKI to enter Romanian market, opening auto filters factory in Arad

Wednesday, February 8, 2017

Tokyo-based auto filters manufacturer ROKI has leased for five years a 5,500 square-meter unit in the CTPark Arad (Western Romania), with extension options, according to a press release. The space will include logistics and offices and social areas. This project is the first in Europe as a production facility for the group and is meant to supply ROKI’s customers and original equipment manufacturers, mainly in the European ...

A factory for auto parts for Germany will be set up in Romania

Wednesday, February 1, 2017

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A factory to supply auto parts to companies in the auto industry in Germany will be set up, in March, in Calafat, city which faces a serious lack of work places. The company which will set up the factory of auto parts was recently founded in Calafat and will have partners in the auto industry in Germany. For the investment, the company acquired five warehouses of a former factory for equipment parts, paying for it almost 300,000 ...

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