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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 ...

Bosch may open washing machine factory in central Romania

Wednesday, August 30, 2017

German group Bosch plans to open a washing machine factory in Simeria, Hunedoara county, only three kilometers away from the Sibiu-Arad highway, romania-insider.com informs. The talks between Bosch and the Simeria municipalities have started three months ago, reports ...

Constanta National Company "Maritime Ports Administration"and China's Ningbo Zhoushan ratified institutional cooperation protocol

Wednesday, August 30, 2017

General manager of the Constanta National Company "Maritime Ports Administration" Dan Nicolae Tivilichi ratified on Wednesday the institutional cooperation protocol with the world's fourth largest and sixth most important container port, China's Ningbo ...

Salrom posted a net profit of over 47 million lei in H1 2017

Wednesday, August 30, 2017

National Salt Corporation (Salrom), Romania's only salt producer, posted a net profit of over 47 million lei in H1 2017, marking an 84 percent increase from the same period last year, the company said in a release on Wednesday. Salrom's net turnover in H1 ...

Study: The volume of parcels delivered by couriers is four times bigger today than 10 years ago due to online stores

Wednesday, August 23, 2017

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 Online commerce has grown steadily in the past years, significantly influencing the courier industry. Thus, the volume of parcels delivered by DPD couriers today is four times higher than ten years ago. The major factor that influenced this growth is the migration of offline stores to online, according to DPD Romania, one of the most important players on the local market of parcel and express delivery. According to the data provided by the ...

Former Poiana chocolate factory in Brasov, put on sale for EUR 2 M

Wednesday, August 23, 2017

Mondelez Romania, the former Kraft Food, one of the biggest players in the sweets market, wants to sell the former Poiana chocolate factory in Brasov, for at least EUR 2 million (no VAT), according to bzb.ro quoted by ...

AFI Europe Romania posts EUR 24.7 mln net operating income in H1 2017

Wednesday, August 23, 2017

AFI Europe Romania has posted a net operating income of EUR 24.7 million in the first half of 2017, up by 11.5 percent compared to 2016, business-review.eu informs. AFI Europe Romania published its Q2 and H1 2017 financial results, generating a Net Operating Income (NOI) from its income producing assets in Romania of EUR 12.5 million in Q2 and close to EUR 25 million in H1, representing respectively 10.4 percent and 11.5 percent higher results compared ...

Romania's Urgent Cargus gets 134 mln lei (29 mln euro) syndicated loan

Wednesday, August 23, 2017

Romanian courier services provider Urgent Cargus has contracted a syndicated loan facility worth 134 million lei ($34 million/ 29 million euro) from local lenders Banca Comerciala Romana (BCR) and OTP Bank, seenews.com informs. The loan facility has a five-year maturity, as Urgent Cargus will use the money for its development and to partially refinance existing loans, BCR said in a press release. BCR acts as coordinator, ...

Israeli investors, close to selling Radisson Blu in Bucharest

Wednesday, August 23, 2017

Israeli group Elbit Imaging has signed a letter of intent to sell its majority stake in the company that owns the Radisson hotel complex in Bucharest, romania-insider.com informs. According to this letter of intent, which is non-binding, the property is valued at some EUR 177.5 million, Elbit Imaging announced on NASDAQ. The potential buyer is an international investment fund, according to the announcement. The transaction is expected to be closed ...

Antibiotice Iasi ups net profit by 17%

Wednesday, August 23, 2017

State-owned pharma group Antibiotice Iasi recorded sales revenues of RON 147.2 million (EUR 32.1 million) in the first six months of this year, up 2.4% year-on-year, romania-insider.com reports. Its net profit increased by almost 17% reaching RON 19.19 million (EUR 4.2 million). Despite the good results, the company complained about Romania’s pharma market in its financial report. Antibiotice ...

Ministry of Business Environment: 20 grants agreements for Start-up Nation, worth 4 million lei, signed on last Wednesday

Wednesday, August 23, 2017

The Ministry of the Business Environment, Trade and Entrepreneurship (MMCCA) signed on Wednesday 20 grant agreements for the Start-up Nation Programme, amounting to almost 4 million lei, and under these agreements 155 new jobs were created, the Minister for Business Environment, Ilan Laufer, told a press conference. Bakeries, footwear companies, software ...

Romanian investment transaction market up by 43 pct in H1 to EUR 530 mln

Wednesday, August 23, 2017

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The Romanian investment transaction market went up by 43 pct in the first half of 2017 to approximately EUR 530 million, a study by Cushman & Wakefield Echinox published shows according to business-review.eu. According to the study, the growth was driven mainly by retail portfolio transactions. In the first six months of the year there were recorded six transactions that involved retail space portfolios, such as the 50 percent stake acquired by the ...

Oltchim plants to launch general overhaul on Aug 20

Wednesday, August 23, 2017

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Insolvent Romanian chemicals producer Oltchim [BSE:OLT] said on last Thursday that its production plants will undergo a general overhaul from August 20 until August 31, seenews.com informs. "The production activity will be interrupted in order to carry out maintenance work specific to a general overhaul. These works are carried out, according to their specifics, both with specialized firms and with our own labour force," Oltchim said in a statement ...

Digi revenue up 11% to EUR 227 mln in Q2

Wednesday, August 23, 2017

Digi saw its revenue for the three-month period to 30 June increase 10.7 percent year-on-year to EUR 227.3 million. Revenue in Romania grew 10.3 percent to EUR 163.8 million, and revenue in ...

Transelectrica, falling net profit by 31pc in H1

Wednesday, August 23, 2017

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Transelectrica registered in the first semester a net profit of RON 98 million, down by 31% against the similar period in 2016, a report sent to the Bucharest Stock Exchange (BVB) reads quoted by romaniajournal.ro. “The net profit has decreased by approx. 30.62% against the one in H1 2016 (down to RON 98 million from RON 142 million), mainly due to the fall in revenues for electric power transportation,” the document ...

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