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Romania's antitrust body clears Transeastern Power takeover of OMV Petrom Wind Power

Wednesday, October 18, 2017

Romania's anti-trust regulator said on Monday it has approved the takeover of OMV Petrom Wind Power, a subsidiary of Romania's top oil and gas group OMV Petrom [BSE:SNP], by Transeastern Power B.V, seenews.com reports. Transeastern Power will pay 23 million euro ($27.2 million) for the company whose main activity is the operation of the Dorobantu wind park, according to a statement released in July. "Following a review of the transaction, the Competition Council found that it ...

Romanian RCS&RDS' parent company Digi borrows 200 mln euro

Wednesday, October 18, 2017

Digi Communications [BSE: DIGI], majority owner of Romanian company RCS&RDS, said on Monday it has contracted a 200 million euro ($237 million) loan mainly to support the acquisition of Hungarian telecommunications operator Invitel, seenews.com reads. The bridge loan, granted by ING Bank N.V and Citibank N.A, has a maturity of 12 months and it can be extended for an additional period of up to 6 or 12 months, Digi said in a a statement filed with the Bucharest Stock Exchange, ...

OMV Petrom, Ford Romania sign MoU for strategic partnership

Wednesday, October 18, 2017

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Ford Romania, a subsidiary of US car maker Ford Motor Company, and oil and gas group OMV Petrom [BSE: SNP] said on Monday they signed a memorandum of understanding (MoU) for the development of strategic partnership, seenews.com reads. The first steps in the partnership between OMV Petrom and Ford Romania concern the supply of Petrom fuels, produced in Romania, for the new Ford EcoSport units, a model for which official production started on October 12 at Ford’s plant in ...

Local Huawei subsidiary buys assets from UPC Romania

Wednesday, October 18, 2017

Romania’s Competition Council has approved the Huawei’s takeover of several assets and employees from UPC Romania, romania-insider.com informs. The Chinese firm will get employees and assets from UPC Romania for the maintenance service of fixed communications networks. Huawei entered the Romanian market in 2003. It mainly focuses on the trade of electronic and telecommunication components and equipment. In ...

Lucian Lovin and Bogdan Iana are the new vice-presidents of ANCOM

Wednesday, October 18, 2017

Eduard Lucian Lovin and Bogdan Cristian Iana were named vice-presidents of the National Authority for Management and Regulation for Communications in Romania (ANCOM) on October 11, business-review.eu informs. Their appointment came after the Parliament’s decision number 79 was published in the Official Monitor Iana, worked for public institutions in the communications sector since 1997 until present. He was the general inspector of Radiocomunicatii and the general ...

Czech investment fund wants to acquire largest pharma group in Romania

Wednesday, October 18, 2017

Czech investment fund Penta Investment, which owns the betting company Fortuna, has entered talks to acquire A&D Pharma, the largest pharma group in Romania, according to market sources cited ...

Alro invests more than USD 190 M in energy efficiency and decreasing consumption by 2021

Wednesday, October 18, 2017

In the first six months of this year, Slatina-based Alro has completed over USD 16 million investments in both the primary aluminium and the processed aluminium segment, a press release informs quoted by romaniajournal.ro. The investment program will allow Alro to expand its customer base in industries using high-quality aluminium. Alro’s business plan for the period 2017-2021 predicts total investments of over USD 190 million. Moreover, the largest aluminium producer in ...

Teraplast Group inaugurated TeraSteel Serbia, the first Romanian factory opened abroad after 1990

Wednesday, October 18, 2017

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 Teraplast Group, the largest PVC processor in Romania and one of the main construction and installation materials manufacturers, opened on October 11th the TeraSteel Serbia factory, specializing in the production of sandwich panels, the company imforms în a press release sent to ACTMedia. This is the first factory inaugurated after 1990 abroad and fully owned by a Romanian company. "The expansion of Teraplast's activity in Serbia with the opening of the Leskovac plant is ...

Survey: Almost 70 pc of Romanian entrepreneurs faced at least one image crisis in 2017

Wednesday, October 18, 2017

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According to a GMP PR survey conducted with the CITR Group, the number of entrepreneurs who have experienced image crises in the past year has risen from 60 percent in 2016 to 68 percent in 2017, romaniajournal.ro reads. However, 74 percent of them do not think they will face such a problem in the near future. Most (60 percent) consider that internal issues and business decisions are the basis of a crisis, less the social media (26 percent) or the product itself (14 ...

Major change announced by PM Tudose: Split VAT could be mandatory only for distressed SOEs

Wednesday, October 11, 2017

PM Mihai Tudose says that the split VAT system, which is optional starting October, could become mandatory only for distressed state-owned enterprises, business-review.eu reports. Initially, the system should have become mandatory for all companies as of January 2018, despite warnings coming from the private sector. The measure “will be applied only for state-owned enterprises, which are under administration or in bankruptcy,” said the PM. His statement ...

Study: people want to have their own business, but they avoid it due to the instability of the economic environment

Wednesday, October 11, 2017

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Many would like to have their own business but very few take that step due to difficulties such as the difficulty to find financial support and the instability of the  economic environment shows an international study made by Metro, which analysed the independent businesses in ten countries. These results show us new perspectives with regard to the importance the  society offers to independent businesses and help us understand what motivates and worries the ...

Radu Lotrean becomes first Romanian to head INSOL Europe

Wednesday, October 11, 2017

Radu Lotrean was appointed chairman of INSOL Europe at the annual congress held in Warsaw between 5-8 october, business-review.eu informs. He is the first Romanian to head the body and the first chairman from Central and Eastern Europe.  Previously, Lotrean, a co-founder of CITR, part of the CITR Group, held the position of vice-president, which he occupied in 2015.  According to Lotrean, INSOL Europe could become in the upcoming years “a ...

Bosch opens training center for students near Cluj

Wednesday, October 11, 2017

German group Bosch has opened a training center in Jucu, Cluj county, with an investment of about EUR 6 million, romania-insider.com informs. The center will train students in advanced technologies. Bosch owns an electronic parts factory for the automotive industry in Jucu. The company has over 3,200 employees in Romania and records an annual turnover of over EUR 270 million. Bosch plans to open a washing machine factory in Simeria, ...

Sphera Franchise Group aims to list 25 pct of its shares for IPO

Wednesday, October 11, 2017

Sphera Franchise Group SA, comprising the companies that own the brands KFC, Pizza Hut and Pizza Hut, announced Monday the intention of floating 25 percent of its shares on an IPO on Bucharest Stock Exchange (BVB), business-review.eu reads. The offer targets retail and institutional investors in Romania, as well as institutional international investors outside the USA. “Sphera intends to request the IPO ...

Deloitte study: M&A market in Romania reaches EUR 898 mln in Q3

Wednesday, October 11, 2017

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The M&A market in Romania has reached EUR 898 million in the third quarter of the year, according to public sources and disclosed transactions, according to an analysis performed by Deloitte Romania quoted by business-review.eu. Twenty-eight deals were announced in Q3, including those with undisclosed value, representing two deals a week on the average. Compared to the similar period last year, the value of the transactions has tripled in Q3 while their number grew by 20 ...

Sercin Giray is the new Bayer CFO in Bulgaria, Romania and Moldova

Wednesday, October 11, 2017

Sercin Giray was appointed Chief Financial Officer (CFO) of Bayer AG in Bulgaria, Romania and Moldova. She took over from Andreas Schremmer, the Romanian publication ‘Ziarul Financiar’ reported quoted by sofiaglobe.com In 1999, Sercin Giray started her career at Bayer’s accounting and finance department in Turkey, her native country. She was promoted to Head of Group Reporting in 2008. In 2010, she moved to Bayer AG’s headquarters in Leverkusen (Germany), ...

5.6 pct of all companies in Romania pay in time their dues to the state

Wednesday, October 11, 2017

The strong, financially stable businesses that pay in time their dues to the state and generate profit represent roughly 5.6 pct of all companies in Romania, most of them being microenterprises, found a study conducted by a commercial risk management company sent on ...

CFR's Chiper: We draw over 2.5bn lei from European funds by August

Wednesday, October 11, 2017

Rail operator CFR SA recorded in August an uptake rate of European funds of over 2.5 billion lei, due also to the signing of some new contracts and the allocation of the down payment for these, and at the end of the year an important amount will be settled at the European Commission, CFR SA General Manager Marius Chiper told Agerpres on Tuesday. "This year I can say that we excel in terms of uptake of European funds. We have an uptake rate of more than 2.5 billion lei, we are in full ...

Business evolution in 2017 report: 20 pct of Romanian companies expecting negative profits

Wednesday, October 11, 2017

According to the survey report “Business evolution in 2017” released this Tuesday by Valoria, in the second half of the year, Romanian companies have made significant adjustments to previously projected figures for turnover, profit, employee numbers, salary levels and investments for this year, business-review.eu informs. The percentage of companies expecting negative profits is now 20 percent compared to only 6 percent at the beginning of the year, while the ...

Romania's Dacia leads SeeNews ranking of biggest SEE companies

Wednesday, October 4, 2017

Romanian car maker Automobile Dacia, a unit of France's Renault, retained its position as the biggest company in Southeast Europe (SEE) in terms of total revenue for 2016, the SEE TOP 100 ranking released by news agency SeeNews on Tuesday showed. Automobile Dacia raised its revenue by 8% to 4.619 billion euro in 2016 and increased its net profit to 100.5 million euro from 99 million euro a year earlier, taking the leading position in the tenth ...

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