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Boeing will extend the contracts with Romaero for plane parts

Wednesday, June 28, 2017

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The American giant Boeing, one of the biggest plane builders in the world intends to extend the present contracts with the Romanian company Romaero from which the American group buys parts of its aircraft, stated for News.ro the manager for sales for Europe with Boeing Maarten Kluit who motivated the division by increasing the production of the model 737. The manager was in Paris where the American group took part in Air Show 2017, the biggest event of ...

3Pillar Global to open its third development center in Romania

Wednesday, June 28, 2017

American 3Pillar Global, the provider of IT services, will open the third development center from Romania this August, in Iasi, in Moldova Business Center, business-review.eu reports. 3Pillar Global rented over 700 sqm in the office building Moldova Business Center and until the end of the year the company aims to reach 50 engineers and IT specialists from Iasi that will join the other 450 employees from Cluj-Napoca ...

Study: 40 percent of directors believe that management quality in Romania is below EU level

Wednesday, June 28, 2017

According to a recently published study, 40 percent of thedirectors surveyed believe that the quality of management in Romania is below that in other EU member states, business-review.eu reads. The study, which surveyed 1,224 participants, was conducted bythe National Council of SMEs from Romania (CNIPMMR) and the Management Academic Society in Romania ...

The sale of Oltchim: the deadline for the engaging bids to be presented was extended up to 6 July

Wednesday, June 28, 2017

The deadline for the engaging bids for the sale of the shares packages of the Oltchim unit which is in default, was extended until 6 July, a  report shows sent by the BVB. Similarly in March, the deadline for the bids for the sale of the Oltchim shares was extended with three months, until 26 June, the reason being that they received requests from interested companies. Over ten investors who presented non-engaging bids for ...

EximBank grants almost RON 16 M to Dutch Prolyte Group to expand its business in Romania

Wednesday, June 28, 2017

EximBank is financing with RON 15.7 million Prolyte Products, part of Prolyte Group Netherlands, specialized in manufacturing light aluminum structures for public events, for building a new production facility of the company in Piatra-Olt, Olt Count, romaniajournal.ro reports. The second production facility, opened last week has been finalized during the last year since the opening of the first factory in Piatra Olt – an investment project of RON ...

Romania regulator's director makes 'shock' reorganisation

Wednesday, June 28, 2017

The new head of the Romanian telecommunications authority Ancom, Adrian Dita, conducted a so-called "shock reorganisation," writes local paper Ziarul Financiar quoted by telecompaper.com. Following the reorganisation, nine people from the leadership team were moved to lower positions with lower salaries. Dita did not appear at the so-called " destabilisation" hearings on 20 June in the Chamber of Deputies' IT Committee to explain to parliamentarians his methods to ...

Ravinder Takkar ends mandate at Vodafone Romania, to take regional role

Wednesday, June 28, 2017

Starting July 15, Ravinder Takkar, CEO of Vodafone Romania, will be appointed as chairman Vodafone Group Services, Regional Business Development, where he will be responsible for representing Vodafone’s interests in India, including ensuring the successful creation and integration of the new Vodafone India joint venture with Idea, business-review.eu informs. In addition, he will take responsibility for ...

Reuters: GE wins first major east European deal from Alstom portfolio

Wednesday, June 28, 2017

General Electric has won a large contract to supply gas power equipment for a new 430 megawatt Romanian power plant, the first major deal in the region to result from its $10.6 billion 2015 acquisition of Alstom's power business, Reuters correspondent reports. GE will supply all the core technology for the 268 million- euro ($299 million) combined-cycle plant being built in Iernut by Duro Felguera and Romelectro for state gas ...

Reuters: Daimler’s Uber rival mytaxi expands into Romania

Wednesday, June 28, 2017

Mytaxi, the ride hailing app owned by German carmaker Daimler, has agreed to buy a Romanian rival as part of efforts to create a pan-European service to take on Uber, reuters.com reports. Mytaxi Chief Executive Andrew Pinnington said the company was paying an “eight figure” sum to buy Romanian market leader Clever Taxi, which operates in 20 cities across the country. Earlier this year, ...

Profi opens six new stores, covering 312 localities in Romania

Wednesday, June 28, 2017

Profi retailer opened six new stores, in Siret, Cluj-Napoca, Bacau, Ramnicu Sarat, Cenad and Ghioroc, having units in 312 localities in Romania, business-review.eu informs. This year, Profi announced that it wants to open 200 stores. Currently, the retailer has 12,000 employees. It registered revenues of over RON 3.5 billion in 2016, almost 40 percent higher than 2015, and a net profit of RON 126 million, two times higher ...

Some 12% of companies in Romania face funding constraints

Wednesday, June 28, 2017

About 12% of Romanian companies face constraints in finding external funding, according to a survey of the European Investment Bank (EIB), romania-insider.com informs. The use of funds from internal sources remains high for these companies. However, self-funding a company’s activity raises big problems for small and innovative firms, reports local Agerpres. In Romania, 60% of all companies consider the transport ...

Number of e-businesses in Romania, Bulgaria lowest in EU

Wednesday, June 28, 2017

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The number of businesses with online sales in Romania and Bulgaria was the lowest among EU countries in 2016, the Eurostat's data said quoted by seenews.com. Romanian and Bulgarian companies which generated online sales in 2016 represented 7% and 9%, respectively, of the companies operating in those two countries, Eurostat said in its Digital economy and society in the EU publication. These figures compare to an  EU average of ...

Romanian women occupy only 10 pct of places in boards of public companies

Wednesday, June 28, 2017

Romanian women occupy only 10 percent of places in administration councils of listed companies and 12 percent of positions occupied by women in non-executive roles, under the European average of 23 percent, according to a Deloitte study quoted by business-review.eu. “Norway, the first country which introduced a diversity quota, has the highest women percentage in administration councils (42 percent). In UK there’s no quota for gender ...

Uzina Automecanica Moreni and Rheimetall Landsysteme signed joint venture Romanian Military Vehicle Systems

Wednesday, June 21, 2017

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The Romanian armoured vehicles builder  Uzina Automecanica Moreni (UAM) signed with the German company Rheinmetall Landsysteme the founding document of the joint venture Romanian  Military Vehicle Systems (RMVS) for the building of armoured vehicles 8x8, announced on Thursday the ministry of economy. In November 2016, UAM signed with Rheinmetall Landsysteme the agreement of the shareholders for the setting up of joint ...

Nokia inaugurates 73 mln euro telecom R&D centre in Romania

Wednesday, June 21, 2017

Finland-based multinational communications and information technology company Nokia inaugurated on Tuesday its telecom research and development (R&D) centre in Timisoara, western Romania, following investment of 73 million euro ($81.4 million), seenews.com informs. Since 2015, when it took over French telecommunications equipment company Alcatel-Lucent's operations in Timisoara, Nokia has been in the middle of a relocation and expansion process it ...

Colliers International to manage building of largest private hospital in Romania

Wednesday, June 21, 2017

Real estate consultancy company Colliers International was assigned by the Hili Properties group to provide property management services for the Art Business Center office project, which houses the largest private hospital in Romania, business-review.eu reports. After the assignment, Colliers International reached a managed portfolio of over 280.000 leasable sqm and entered a new segment, that of private ...

IBM to open fourth business services center in Romania

Wednesday, June 21, 2017

American IT giant IBM will open a new business center in Cluj-Napoca this July. This will be the fourth such center operated in Romania after those in Bucharest, Brasov and Timisoara, business-review.eu reads. The Cluj-based center will be located in Liberty Technology Park, the office complex developed by Ioan Sturza, the president ...

Finnish group Patria wants to make armored vehicle in Romania

Wednesday, June 21, 2017

Finnish group Patria, a provider of technology solutions and services in the field of defense, has recently submitted to the Romanian authorities the project for the production and financing of the 8×8 Patria AMV armored vehicle, romania-insider.com informs. According to the project, the 8X8 armored vehicle would be produced in Romania with an important involvement of the Romanian defense industry from the initial stages of implementation, ...

Orange Romania names Muller as HR director

Wednesday, June 21, 2017

Orange Romania named Luiza Muller as its HR director, effective from 1 July. Muller takes over the responsibilities of Ioana Marcu, who decided to leave the company for a new professional challenge. During his tenure at Orange, Marcu played a key role in coordinating major projects, the operator said. Muller joined Orange Romania in 1998 as Senior Accountant and was promoted to roles such as Accountant Coordinator and Accounting Manager. For nearly 9 years, she has been the ...

FONDUL PROPRIETATEA REQUESTS THE REVOCATION OF FOUR MEMBERS OF HIDROELECTRICA’S SUPERVISORY BOARD

Wednesday, June 21, 2017

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  Fondul Proprietatea (“the Fund”) has requested the convocation of Hidroelectrica’s ordinary shareholders’ meeting in order to ask shareholders to replace four members of the Supervisory Board (”Board”), a press rlease sent to ACTMedia informs. The four members are: Ioana Andreea Lambru (President of the Supervisory Board), Laurentiu Dan Tudor (Member), Horia Marian Gambuteanu (Member) and Andreea Negru Ciobanu ...

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