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Healthcare provider Medicover buys Romanian medical network Iowemed

Wednesday, July 12, 2017

Medical services provider Medicover Group said on Monday it has acquires local peer Iowemed for an undisclosed sum, seenews.com informs. The transaction will help Medicover expand its network in the eastern part of Romania, the company said in a press release. Iowemed medical network is located in Constanta county and includes five medical centres, of which two are located in the Black Sea port city of Constanta."We ...

DB Global Technology aims to have 1,000 employees in Romania by end-2017

Wednesday, July 12, 2017

DB Global Technology, Deutsche Bank’s technology center in Bucharest, has reached 800 employees, with over 150 people joining the team in 2017, business-review.eu reads. The company will continue to expand its team, and aims to reach 1,000 employees by the end of the year. Currently, over 75 percent of the center’s employees are part of the millennial generation and are producting software used by the bank across the world. “The first ...

Elmiplant wants 5% turnover growth

Wednesday, July 12, 2017

Romanian cosmetics brand Elmiplant, owned by Greek company Sarantis, has introduced a new skin care line with which it plans to increase its turnover by 5% yearly. The new line, called Elmiplant Care Lab, will retail exclusively in pharmacies. The Elmiplant Care Lab line is made up of three segments: sensitive skin products, solar protection products, and pregnancy and post-pregnancy products. The latter is a novelty in the ...

Massive TV purchases bring IT&C retailer Altex its highest ever turnover

Wednesday, July 12, 2017

Romanian IT&C retailer Altex posted last year its highest ever turnover, exceeding the increase it previously forecasted, romania-insider.com informs. House buyers and bar owners preparing for the European football championship fueled the growth as they purchased TVs, according ...

Alexandrion Group plans USD 100 mln distillery in State of New York

Wednesday, July 12, 2017

Alcoholic beverages maker Alexandrion Group will build in the State of New York a distillery that will require an investment of around USD 100 million, according to Nawaf Salameh, the president of the group, cited by business-review.eu Salameh explained that the company will replicate in the United States the investments it has in Romania, where it already controls a distillery. “In Romania we ...

Romania’s Salrom targets 30% rise in gross profit in 2017

Wednesday, July 12, 2017

Romanian salt producer Salrom said on Friday it targets a 30% higher gross profit in 2017 and a 10% rise in turnover, based on projects for technical upgrades and improved management of resources, seenews.com reports. Salrom expects a gross profit of 39.2 million lei ($9.7 million/ 8.5 million euro) in 2017 and a turnover of 325.7 million lei, the company said in a press release. "We are aware of the major role our company has ...

Minister Laufer: We have 86 ongoing investment projects under InvestRomania, worth 1.8 billion euro

Wednesday, July 12, 2017

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The Business Environment, Trade and Entrepreneurship Ministry is negotiating, under the InvestRomania programme, for foreign companies implementing in Romania projects worth 1.8 billion euro, the relevant minister, Ilan Laufer, told a press conference on Friday. "We have 86 ongoing investment projects under InvestRomania, worth 1.8 billion euro, namely over 17,900 potential new jobs. A very interesting piece of information: with support from InvestRomania a ...

Decathlon Romania opens 20th store în Botosani

Wednesday, July 12, 2017

The Romanian arm of French sports goods retailer Decathlon said on Thursday it opened a new store in Romania in the northeastern city of Botosani, seenews.com informs. The new store spreads on a 1,100 sq m area and will sell goods covering 50 sports, Decathlon Romania said in a press release. "We chose to open our fifth store in Romania's historical region of Moldova because we had many positive reactions from people who wanted a Decathlon store ...

Romania's Chimcomplex Borzesti submits offer for Oltchim assets

Wednesday, July 12, 2017

Romanian chemicals producer Chimcomplex Borzesti [BSE:CHOB] said on Thursday it has submitted an offer to take over the assets of its insolvent peer Oltchim [BSE:OLT], seenews.com reads. Chimcomplex, part of Romanian Commercial Services Group (SCR Group), will be supported in this transaction by US industrial group Tricon Energy as a trading partner, five European banks co-ordinated by ING, and two investment funds in London and Dubai, the company said ...

Creditinfo study: number of employees decreased by 90,000 at the end of 2016

Wednesday, July 12, 2017

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The number of employees in the companies that submitted financial reports for the past year decreased by 90,000 at the end of 2016, to 3.91 million, according to a study published on Thursday. According to the survey, the overwhelming majority of companies in Romania (91.5 percent) are micro-enterprises that employ nine employees at the most; 8.19 percent have between 10 and 49 employees; 1.49 percent have between 50 and 249 employees, and 0.29 percent, (a ...

Public-private partnership law to be functional as of October

Wednesday, July 12, 2017

The public-private partnership law could be functional as of October, the implementing regulation are to be carried out this summer, Minister for Business Environment, Trade and Entrepreneurship Ilan Laufer told a press conference on Wednesday. "Currently we have a draft of the law from November 2016. Unfortunately, we have an extended working group and we tried to find solutions in order to manage to adjust, from the implementing regulation of the ...

The government sets up nine regional agencies for SMEs, drawing investments and support of exports

Wednesday, July 5, 2017

An emergency ordnance adopted on last Friday by  the government includes the reorganisation of the territorial offices for SMEs in regional agenices which will have as  role not only the support of the small and medium entreprises as well as the drawing of the investments and stimulation of exports. The document sets up nine territorial agencies in Bucuresti, Brasov, Cluj-Napoca, Constanta, Craiova, Iasi, Ploiesti, Targu Mures and Timisoara ...

Romanian regulator conditionally approves Lactalis takeover of Covalact, Lactate Harghita

Wednesday, July 5, 2017

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Romania's anti-trust body said on Tuesday it conditionally approved the takeover of Romanian dairy companies Covalact and Lactate Harghita by France's Lactalis, seenews.com informs. To proceed with the takeover, Lactalis should sell its LaDorna butter brand for a certain period of time to an independent dairy company, which then has to re-brand the product, the Competition Council said in a press release. In 2008, Lactalis took ...

BAT to upgrade Romanian factory, to move part of Bulgartabac's production

Wednesday, July 5, 2017

British American Tobacco (BAT) has said it plans to invest 60 million euro ($68.2 million) in expansion of its factory in Romania's Ploiesti, which will take on part of production from Bulgarian tobacco group Bulgartabac recently acquired by BAT, seenews.com reports. BAT will build a new production hall and upgrade technologies throughout the factory in the city in southern Romania. The reason for expanding the production ...

One in three companies in Romania risks insolvency on new turnover tax

Wednesday, July 5, 2017

Around half of the companies in Romania will pay higher taxes if the Government introduces in 2018 the turnover tax instead of the current profit tax, according to an ...

Daewoo Shipbuilding Close to Selling Romania's Mangalia Shipyard to Dutch Shipbuilder

Wednesday, July 5, 2017

Daewoo Shipbuilding & Marine Engineering will sell off its subsidiary Mangalia Shipyard in Romania to a Dutch shipbuilder, http://english.hankyung.com/ reports. As the Korean shipbuilder succeeded in selling its assets at higher prices ...

Paralela 45 targets sales’ growth of 20 pct in 2017

Wednesday, July 5, 2017

Travel agency Paralela 45 aims to increase its sales by 20 percent for the 2017 season, considering that the demand for holidays with budget over EUR 1,000/family is by a third higher than in 2016, most of them acquired on early booking, according to the company quoted by business-review.eu. At the same time, the sales of all inclusive packages at 5-star hotels climbed by 15 percent, and most of the acquired destinations for this budget are Spain, ...

Coca-Cola invests EUR 7 M in its factory in Timisoara

Wednesday, July 5, 2017

Coca-Cola HBC Romania, the largest company in the local beverage industry, inaugurates the most recent EUR 7 million investment: a high-speed production line for bottling in the Timisoara plant, with a maximum production capacity of 90,000 cans / hour, romaniajournal.ro informs. Also, this new investment is the most energy-efficient line (410 kW / h) in the Timisoara plant and the line with the lowest water consumption per liter of beverage produced ...

Romanian fashion brand Nissa enters Polish market

Wednesday, July 5, 2017

Nissa, one of the most well-known Romanian fashion brands, is entering this summer the Polish market by opening its debut 86-sqm store in Warsaw’s Arkadia shopping centre, a press release informs quoted by romaniajournal.ro. Colliers International represented the tenant in the lease negotiations and has facilitated Nissa expansion into Poland. Nissa offers a wide range of high-class products for women, including elegant ...

Romanian Softronic’s electric locomotives reach Sweden

Wednesday, July 5, 2017

Local rail manufacturer Softronic will deliver two TransMontana locomotives to Green Cargo freight operator in Sweden, railcolornews.com informs quoted by romaniajournal.ro. The electric units are to be delivered during the summer of 2018. Green Cargo states that it will be able to offer a more efficient logistics solution, especially in the heavy freight market. A Softronic TransMontana locomotive can pull up to 3,000 tonnes, twice as much as a four ...

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