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5,387 companies in Romania go into liquidation ten months into 2022

Wednesday, November 30, 2022

The number of commercial companies and PFA registered sole traders going into liquidation in Romania increased by 10.68% in the first ten months of 2022, y-o-y, with 5,387 insolvencies being registered, according to data posted on the website of the National Companies Registry Office (ONRC).Most of the insolvencies were in Bucharest, 920, up 2.91% y-o-y.Next in the ranking of insolvencies were the counties of Bihor, with 462 insolvencies (+33.04%); Cluj - 389 ...

Romania, in The Deloitte 2022 Central Europe Technology Fast 50

Wednesday, November 30, 2022

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Romania is present in the main category of the Deloitte 2022 Central Europe Technology Fast 50 ranking of the fastest growing start-ups in the region through the technology company Wave ...

AROBS posts a consolidated net profit of RON 38.3 million in the first nine months of 2022

Wednesday, November 30, 2022

AROBS Transilvania Software, the largest technology company listed on the Bucharest Stock Exchange, posts consolidated operating revenues of 212.6 million lei in the first nine months of 2022, a 209 million lei turnover, EBITDA of 55 million lei, and a consolidated net profit of 38.3 million lei.   The nine-month consolidated results also partially include the performance of the new companies acquired by AROBS as of December 2021, with the support of the capital raised ...

German companies envisage fewer investments in Romania amid harsh winter ahead

Wednesday, November 30, 2022

German companies in Romania assess their economic situation as good or satisfactory, although most of them see the international context worsening over the next 12 months, according to the survey carried out in October 2022 by the Romanian-German Chamber of Commerce and Industry (AHK Romania).    The propensity for investments has visibly diminished from the past survey. The volume of investments will remain unchanged for 33% of the companies surveyed, ...

KPMG in Romania and Moldova issues the fourth edition of the customer experience excellence report, „Orchestrating the connected customer experience”

Wednesday, November 30, 2022

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  The 2022 survey comes at a time of new challenges in terms of delivering customer excellence. While the 2020 and 2021 customer was very much focused on negotiating the difficulties generated by the pandemic, in 2022 a primary concern is value for money at a time of rapidly rising prices. Empathy and digitalization play a significant role in the way customers evaluate the experiences they have with ...

Company Fortech sold to GlobalLogic

Wednesday, November 30, 2022

The Romanian software services company Fortech, founded by the Romanian entrepreneur Calin Vaduva, was sold to the American company GlobalLogic, a member of the Japanese Hitachi group.   The transaction is subject to regulatory approval and is expected to close by the end of this year.   Fortech, which has its headquarters in Cluj-Napoca and service centers in Oradea, Iasi and Bra?ov, is one of the largest IT service providers in ...

Weidmüller company builds two production halls and creates 500 jobs

Wednesday, November 30, 2022

Weidmüller company began construction works of two production halls in Tautii Magheraus, to create 500 new jobs , the president of Maramures County Council, Ionel Bogdan announced.   “With this new building, the international company will expand by 6,800 square meters. After the completion of works, Weidmüller will have a total area of 21,800 sq.m, the biggest production unit of Weidmüller Group. The new investment will create 500 ...

DefMin Tilvar, Avioane Craiova delegation discuss ongoing trainer aircraft upgrade contract

Wednesday, November 23, 2022

National Defence Minister Angel Tilvar met on Tuesday with a delegation of airplane maker Avioane Craiova SA, with whom he discussed the contract for the refurbishment and upgrading of 10 IAR-99 Standard aircraft, the Defence Ministry informs.The delegation was led by the company's general director Victor Muntean, and talks focused on the industrial cooperation between the Ministry and Avioane Craiova SA, particularly under the ongoing contract for the ...

Software developer Oves Enterprise invests 200,000 euros in Silicon Valley office

Wednesday, November 23, 2022

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Cluj-Napoca-based software developer Oves Enterprise announced on Tuesday the opening of its first US office, in Silicon Valley's Palo Alto, following an investment of 200,000 euros.Currently, over 80 percent of the company's turnover is generated by its offices outside the country. The new office in the US is practically the company's fifth foreign location."We estimate that in the next three years, the US market will come to represent approximately ...

Porsche Engineering opens office in Timisoara

Wednesday, November 23, 2022

Porsche Engineering, technology services provider and wholly owned subsidiary of Porsche, is strengthening its presence in Romania and announcing the official opening of its physical office in Timisoara, with long-term development plans. This approach is part of the company’s strategy to strengthen its presence locally, and in 2023 Porsche Engineering aims to expand the local team with over 100 new colleagues, of which approximately 50 developers and software engineers ...

Hitachi group takes over Romanian IT firm Fortech

Wednesday, November 23, 2022

GlobalLogic Inc., a Hitachi Group company and Digital Engineering leader, announced that it signed a definitive agreement to acquire Fortech, one of ...

Paints maker Kober builds logistic hub in central Romania

Wednesday, November 23, 2022

Varnish and paint manufacturer Kober, located in the northeastern county of Neam?, bought a 20,000 sqm plot of land in the industrial area of the city of Deva (central Romania), where it plans to develop a regional logistics hub to later serve as production facility as well.   The land will be used in the first phase for the development of a new regional logistics hub. Later, a fourth production centre ...

Safetech Innovations post a net profit of RON 5.3 million in the first nine months of 2022

Wednesday, November 23, 2022

Safetech Innovations, a Romanian cybersecurity company listed on the AeRO market of the Bucharest Stock Exchange, post total operating revenues of 28.3 million lei in the first nine months of 2022, a 49% increase compared to last year and a net profit of 5.3 million lei, a 134% increase.   In the first nine months of the year, the turnover amounted to 20.8 million lei, a 58% appreciation, mainly due to the upsurge in the ...

Xerox appoints John Bruno as President and Chief Operating Officer

Wednesday, November 23, 2022

 Xerox Holdings Corporation (NASDAQ: XRX) announced the appointment of John Bruno as President and Chief Operating Officer. Bruno joins the team following Steven Bandrowczak’s promotion to Chief Executive Officer earlier this year. In this role, John will partner closely with the CEO and leadership team to shape the company's global strategy and will be accountable for operating model advancements to improve company performance. He will also oversee ...

BASF in Romania launched free educational web app for performing real chemistry experiments at home

Wednesday, November 23, 2022

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Web app named “Lab-free chemistry” is developed as an interactive and gamified course intended for primary and high-school students It consists of four levels with instructions for performing safe and fun experiments followed by the quiz to test their knowledge Among others, Lab-Free Chemistry program is also available in Romanian ...

Primark opens the first store in Romania on 15th of December

Wednesday, November 23, 2022

Primark, the international fashion retailer, has announced that its first store in Romania, in the capital of Bucharest, will open just in time for the Christmas season. The much-anticipated new flagship store, located at ParkLake Shopping Centre, will open to customers at 10am on Thursday 15th December.   This opening marks an important milestone for Primark as the retailer enters its 15th market, continuing its ...

EVERGENT Investments reports a net result of RON 101.4 million in Q3 2022

Wednesday, November 23, 2022

EVERGENT Investments, a company listed under the ticker EVER, which differentiates itself through its private equity projects, reports that the estimated net result for the whole year 2022 was exceeded by 57% in the first 9 months of 2022. The net result of RON 101.4 million is comprised of RON 87 million net profit and RON 14.4 million net gain from financial asset sale reflected in retained earnings.   The total value of ...

IMPACT Developer & Contractor doubles its net profit and registers a 43% increase in turnover

Wednesday, November 23, 2022

IMPACT Developer & Contractor, the first real estate developer established in Romania and also the first real estate company listed on the Bucharest Stock Exchange, with an uninterrupted presence of over 25 years, reports in the first nine months of the year a 43% increase in turnover, an increase of 99% in net profit and a gross margin of 36%.   The increases are mainly due to the optimization of processes at ...

Analysis: 42% of all impactful companies are restructured or insolvent companies

Wednesday, November 16, 2022

About 70% of the national turnover is generated by 32,027 impact companies, with total assets of over EUR 1 million, and 42% of them are currently restructured or in imminent insolvency, according to the study of impact companies conducted by CITR specialists. company active in the insolvency and restructuring market. According to the quoted source, the number of companies in insolvency dropped by 10% ...

The profit of Biofarm increased by 20% in the first nine months, to 65.73 million lei

Wednesday, November 16, 2022

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The drug manufacturer Biofarm reported a net profit of RON 65.73 million in the first nine months of the year, up by 20%, while the net sales revenues were RON 208.89 million, up by 17% compared to the same period last year.    ‘ Net income from sales made in the first nine months of 2022 was 208,894,318 lei up by 17% against the same period of 2021. The strategy of the company is to continue ...

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