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Number of companies suspending their activity in January-April down 21.16 pct

Wednesday, June 12, 2019

The number of companies that suspended their activity in the first four months of the year dropped by 21.16 per cent compared with the same period of 2018, down to 5,486, according to data published by the National Trade Register Office (ONRC).In April, 1,052 companies suspended their activity.Most companies that suspended their activity in the first four months of this year are in Bucharest, namely 538, down by 37.8 per cent compared with the same ...

Study: Labor market crisis forcing companies to invest in digitization

Wednesday, June 12, 2019

Two-thirds of Romanian companies are determined to invest significantly in digitization over the next 3 years, with 80 percent facing, among other things, the problem of skilled human resources. 79 percent target investment in production, 50 percent in control and 46 percent in planning, according to a survey of more than 300 companies in the Romanian industry. The problem of lack of work-force affects the entire Romanian labor market, and the ...

Clariant opens EUR 140 mln bioethanol plant in Romania

Wednesday, June 12, 2019

Clariant, a world leader in specialty chemicals, opened in Podari, southern Romania, its most innovative plant where it will produce bioethanol. The investor poured EUR 140 million in the plant, out of which EUR 40 million was covered with a grant from the European ...

Bongard, interested in insolvent Romanian cable producer Romcab

Wednesday, June 12, 2019

Bongard, a German family-owned producer of equipment for the cable industry, wants to buy the production lines of the Romanian power and fiber optic cable producer Romcab, which went into insolvency in ...

MedLife to spend EUR 20 million on acquisitions in Romania and abroad

Wednesday, June 12, 2019

The administrative board of MedLife, one of the biggest private healthcare services provider in Romania, has announced that it would increase its credit limit by EUR 15 million, to which other company liquidities will be added to reach EUR 20 million that would be used to develop its national and international expansion strategy through acquisitions, according to news.ro. The bank union through which the credit will be accessed includes BCR as ...

Uzina Mecanica Plopeni to produce Beretta assault weapons in six months

Wednesday, June 12, 2019

Uzina Mecanica Plopeni, a subsidiary of the Romanian National Company for Military Technique Romarm, will start to produce Beretta assault weapons in about six months. Production will start based on a memorandum of understanding signed on June 10 with the Italian company Beretta Holding, economy minister Niculae ...

Top 10 biggest companies in Romania increase sales by 20% in 2018

Wednesday, June 12, 2019

The top 10 companies in Romania, all multinationals, recorded a turnover of RON 131 billion (EUR 28 billion) in 2018, up by 20% compared to ...

Ursus Breweries spends EUR 22 mln to upgrade production capacities

Wednesday, June 12, 2019

Ursus Breweries, Romania’s largest beer producer, has completed an investment of EUR 22 million in expanding the capacity of its factories in Brasov and Timisoara, Robert Uzuna, a director of the company, announced at an event at Brasov, ...

IKEA to open its second Bucharest store this month

Wednesday, June 12, 2019

Swedish furniture retailer IKEA has confirmed that it would open its second store in Bucharest, on Theodor Pallady boulevard, on June 24. It will be IKEA’s largest store in South-East Europe. IKEA Pallady has a surface area of 37,000 sqm – 10,000 sqm larger than the Baneasa store. The investment in the new store has reached EUR 90 million and will have over 10,000 products on ...

Farmec pours EUR 2 mln in upgrading production line

Wednesday, June 5, 2019

Farmec, a 100% Romanian-owned cosmetics manufacturer, earmarked over EUR 2 million to modernize its production capacities, planning to open new brand stores and develop its distribution network at the same time. Farmec’s network of brand stores comprises eight units, located in Cluj-Napoca (three stores), Arad, Brasov, Sibiu, Târgu-Mure? and Timi?oara and 19 Gerovital stores in Cluj-Napoca, Bucharest, Constan?a, Timi?oara, Craiova, ...

TotalSoft 2018 turnover at 19 ml, Q1 2019 revenue up 16 pct

Wednesday, June 5, 2019

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TotalSoft, one of Central Europe's leading providers of business software solutions, reported a turnover of 19 million euro in 2018, while its revenues in Q1 2019 were 16 percent up YoY to 5.4 million euro, the company said in a release on Tuesday.For the end of 2019 TotalSoft - which turns 25 this year - estimates revenues of 23 million euro and EBIDTA of 3.7 million euro.Charisma ERP solutions accounted for the largest share of the company's 2018 ...

Damen To Build Two Hybrid Ferries For Canadian Company At Mangalia Shipyard

Wednesday, June 5, 2019

Two hybrid Roll-on/Roll-off ferries will be built for the Canadian company Seaspan Ferries at the Damen Shipyard in Mangalia, on the Romanian Black Sea coast. The ships, boasting a ...

Romania among emerging markets most vulnerable to a US-China trade war

Wednesday, June 5, 2019

Romania is one of the countries that are vulnerable to a possible global trade war, according to a Bloomberg analysis of 21 emerging economies, Economica.net reports quoting Bloomberg's analyse. Romania ranked 18th out of the 21 states in terms of their potential for resistance when faced with the effects of the trade war, while the Philippines and Egypt ranked first and second. Most of the states that ranked high on the ...

Wizz Air expects higher profit, more passengers in 2019

Wednesday, June 5, 2019

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Low-cost airline Wizz Air is expecting a growth in profit this year after delivering solid results for the 12 months to March 31 on Friday, Reuters reports. The air carrier is optimistic that it will do better than competitors in a context of a challenging operating environment and higher fuel costs in the coming year. Wizz Air is mainly focused on eastern and central Europe, meaning that it avoids the intense competition on ...

Profit of DIY chain Dedeman up 14%

Wednesday, June 5, 2019

Dedeman, the largest Romanian do-it-yourself (DIY) chain controlled by local investors Adrian and Dragos Paval, announced that its turnover rose by 14% year-on-year to RON 7.22 billion (EUR 1.55 billion) in 2018. The company's net profit hit RON 1.013 billion (EUR 218 million ), rising by a similar annual rate of ...

eMag revenues reach 4.77 bln lei in 2018

Wednesday, June 5, 2019

The revenues of the eMag group increased by 17.5 percent in 2018 to 4.77 billion lei, compared to the previous year, according to the company's results, presented on Wednesday in a press conference.The results were backed by the expansion of the product offer, by the increase in the number of customers throughout the region, and the investment in human resources, logistics, technology and international development.Currently, eMAG has reached 9.44 ...

Over 400,000 sign petition for regulation of ridesharing platforms in Romania

Wednesday, June 5, 2019

Over 400,000 Romanians have signed a petition for the regulation of ridesharing services in the country, an association of digital platforms Uber, Clever and Bolt said on Tuesday, seenews.com informs. The association called Coalition for Digital Economy deposited the signatures collected within less than a week at the government's registration office, it said in a press release. "Romanians - drivers and users, have shown to the ...

Net sales of Bosch in Romania went up by 29% last year to 5.6 billion lei

Wednesday, May 29, 2019

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Bosch, the global leader in technology and services provider finalised the fiscal year 2018 with an advance of net total sales of 29% against the previous year, reaching 5.6 billion lei (1.2 billion euro) in Romania, and the company announced that they invested 25 million euro in research/development in the unit in Cluj, according to the data presented on Thursday in a press conference. At the same time, the company finalised the fiscal year 2018 with ...

Deficit of people in online marketing

Wednesday, May 29, 2019

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The Romanians who work in the domain of optimisation of the sites for search engines (Search Engine Optimisation, SEO) have salaries between 500 and 1000 euro, but the heads of the SEO departments of the big western companies can earn, in exchange, five times more, according to a press release of a company in the sector. According to the press release, Romania has a big deficit of SEO specialists. Although the domain is no longer a new one, the number of those who work in SEO ...

Farmaceutica Remedia has a new CEO

Wednesday, May 29, 2019

The Board of th retailer for pharma products Farmaceutica Remedia (RMAH) decided to nominate Valentin-Norbert Tarus as general manager, shows a press release sent on Monday to BVB. This change is necessary to consolidate the retail structures, according to the company. ‘We consider as necessary this change at the leading level of the company to consolidate the retail structures through the efficiency of the activity of ...

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