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ONRC: 1,711 newly set up foreign capital companies registered in first four months of 2021

Wednesday, June 16, 2021

 The number of newly set up foreign capital companies in Romania increased in the first four months of 2021 by 32.84 pct, from the same period of the year before, to 1,711 units, according to data centralized by the National Trade Register Office (ONRC).The 1,711 new companies had a paid up share capital of 20.326 million US dollars, nine times higher than that of the companies registered in January-April 2020, of 2.145 million dollars.By field, most of the ...

The European Union has a shortage of at least 500,000 IT professionals

Wednesday, June 16, 2021

In the context of a rising demand for software testing services and specialized personnel, Qualinest, the software testing consultancy company launches three course modules targeted to those who either are looking to start a career in the field or want to upskill. The three modules include (i) software testing fundamentals, (ii) test automation with Java fundamentals and (iii) API testing and API test automation.   The courses focus on gaining hands-on experience ...

Continental to close Nadab plant, transfer operations to Carei

Wednesday, June 16, 2021

German automotive parts supplier Continental will close its induction systems factory in N?dab, in Arad county, and transfer the activities to its heating/cooling rubber hoses unit in Carei, in ...

NESS invests more in Romania and seeks to hire

Wednesday, June 16, 2021

The IT company Ness Digital Engineering plans to invest EUR 1.2 mln in developing the activity in Romania, in Ia?i and Timi?oara, which will create about 250 new jobs.   "We are expanding our activity by making an initial investment consisting in the purchase of equipment and the creation of new jobs in Iasi and Timisoara. During 36 months, Ness will create 250 jobs - 150 in Iasi, 100 in Timisoara. As provisioned in the forecasts, this project contributes to the ...

Arctic Stream targets EUR 2.5-4 mln with BVB IPO

Wednesday, June 16, 2021

Arctic Stream, a provider of services and equipment in the market of communications technologies, data centers and software solutions, is running a private placement of shares since Thursday, June 10, 2021.   The shares will be later listed at Bucharest Stock Exchange (BVB). The company aims to raise from investors between RON 12.6 mln and RON 21 mln (EUR 2.5-4 ...

Competition Council looking into Wendel Group's tentative takeover of Propak Ambalaj Uretim ve Pazarlama A.S.

Wednesday, June 16, 2021

Romania's Competition Council is investigating a transaction through which the Wendel Group, through Constantia Flexibles International GmbH, intends to take over Propak Ambalaj Uretim ve Pazarlama A.S. of Turkey.According to a press statement released on Thursday, Wendel is an investment group that holds a portfolio of companies operating in various industries, such as flexible packaging manufacturing, certification and verification, paint manufacturing and distribution, ...

ClusterPower to build 36 mln euro data centre in Romania

Wednesday, June 16, 2021

ClusterPower, a cloud services provider founded and controlled by three Romanian entrepreneurs, said on Thursday that starting this month it will build a data centre near the southern city of Craiova, in which it plans to invest 172 million lei ($43 million/ 36 million euro).   The data centre is the first of five planned to be built in Mischii, Dolj county, on a 25,427 sq m of land owned by the company, ClusterPower said in a press release. The project will be ...

Shipyard Orsova gets EUR 9 mln orders from the Netherlands

Wednesday, June 16, 2021

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BVB listed Orsova Shipyard (SNO) in Romania announced that it concluded two contracts for the construction and delivery of two river vessels, worth a total of EUR 5.22 mln.   The clients are the Dutch companies Rensen-Driessen Shipbuilding and TEAMCO Shipyard. The delivery terms are July 31, 2022, respectively March 31, 2022, in Rotterdam.   Last week, the company announced the conclusion of two other contracts for the construction of two river-type ...

16% increase in revenues in the first 5 months of 2021 for Gopet Romania

Wednesday, June 16, 2021

Gopet Romania, the freight forwarding company with almost 20 years of activity on the Romanian market, ended 2020 with a turnover of 32.3 million euros. Although the markets are still unpredictable, the first 5 months brought an estimated 16% increase in revenues for Gopet Romania, compared to the same period in 2020, which demonstrates the company’s ability to adapt to the context created by the pandemic, as well as the returning of a strong demand for transportation services on ...

Endava Romania reports RON 764.1 million revenue in the fiscal year of 2020

Wednesday, June 16, 2021

Endava Romania, the British software company present on the local market, with seven delivery centers, reported a revenue of 764.1 million RON in the financial year that ended on 31 December 2020, a 29% growth compared to the previous year. The company also reported a net profit of 73,7 million RON, 19% up from the last year.   This growth resulted from continuously developing all the delivery centers in Bra?ov, Bucharest, Cluj-Napoca, Ia?i, Pite?ti, Târgu ...

MedLife buys 10% residual stake in Panduri Medical

Wednesday, June 16, 2021

The Romanian BVB-listed private medical service provider MedLife (M) bought the residual 10% stake of Panduri Medical Center.With this, it became the sole owner of the company after it purchased the 90% majority stake five years ago. Panduri Medical Center, active for 14 years on the medical market, includes two clinics and a central laboratory.   MedLife expanded to a large extent by takeovers, with 31 medical service providers and pharma businesses ...

KPMG Guide on Posting of Workers 2021

Wednesday, June 16, 2021

KPMG in Romania has released the sixth edition of its “Guide on Posting of Workers” which includes detailed information on the changes brought by the new Posting Directive in each member state.   Even though 2020 pulled the brake on international mobility as we knew it, it also brought new requirements in terms of international postings, as EU member states had to implement Directive 2018/957/EU into their domestic legislation. Romania ...

The turnover of the Farmexim group/Help Net has increased last year by 12% at 734.2 million euro

Wednesday, June 9, 2021

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The Farmexim group/Help Net part of Phoenix Group had last year a turnover of 734.2 million euro, up by 12% against the previous year.    ‘The Farmexim group/Help Net, part of Phoenix Group contributed positively to the good results of the German company, registering in 2020 a turnover of 734.2 million euro, which is an increase of 12% against the previous year. For the Farmexim/Help Net, 2020 was one of intense growth, both organically and ...

Competition Council to assess takeover of Omniform's local ops by Proplast Group

Wednesday, June 9, 2021

Competition Council  said that it will consider the agreed takeover of the local operations of Belgium's Omniform Group by French group Proplast.   In order to determine whether the concentration is compatible with the normal competition environment, the Competition Council will consider the notified transaction under the merger regulation, the anti-trust body said in a statement on ...

ONRC: Number of companies deregistered up 43 pct in first four months of 2021

Wednesday, June 9, 2021

The number of deregistered companies nationwide increased by 43.46 pct in the first four months of 2021, compared to the same period of last year, to 21,776 deregistrations, according to statistics from the National Trade Registry Office (ONRC).Most deregistrations were registered in Bucharest - 3,434 (plus 64.38 pct compared to January-April 2020) and in the counties of Timis - 1,013 (plus 62.18 pct), Constanta - 951 (plus 33.19 pct) and Cluj - 942 (plus 38.53 ...

Digital transformation company Connections plans massive investments for offshore expansion

Wednesday, June 9, 2021

Bucharest-based tech company Connections is planning investments of up to one million euros to expand in the coming 3 - 5 years its business to the US, Northern Europe and the Middle East, company representatives said in a release .An important pillar for this bold move to foreign markets is getting listed on the Bucharest Stock Exchange this year, together with retail broker TradeVille, company representatives added."Connections has built its expansion plans ...

Recommerce Group Buys Romanian Start-Up Fenix.Eco

Wednesday, June 9, 2021

Recommerce Group, one of the most important players in the refurbished smartphone sector in Europe, operating in 24 countries, is acquiring fenix.eco, a Romanian start-up founded 14 months ago. The transaction will be legally concluded in July. Through this acquisition, Recommerce is enhancing its positions on the local market and is expanding in Eastern Europe.   Discussions between fenix.eco and Recommerce started at the end of ...

eMAG books 8.93 bln lei (1.8 bln euro) revenues in 2020

Wednesday, June 9, 2021

Online retail group eMAG said that it booked 8.93 billion lei ($2.2 billion/1.8 billion euro) revenues in 2020.   The results confirm a first stage of accelerated ecommerce development and reflect investments in technology, logistics infrastructure, international development and in the marketplace, eMAG Group said in a press release.   The group provided no year-on-year comparison but according to ...

Lidl overtakes Kaufland as biggest retailer in Romania

Wednesday, June 9, 2021

German discount supermarket chain Lidl took over discount hypermarket chain Kaufland as the biggest retailer in Romania by turnover in 2020. Both Lidl and Kaufland are part of the German group Schwarz.   Lidl, which entered the Romanian market ten years ago by taking over local supermarket network Plus, reached increased its business by a third in 2020 compared to an 8% increase for Kaufland. Lidl thus reached a turnover of RON ...

ONRC: 55,538 natural and legal persons, registered in first four months of 2021

Wednesday, June 2, 2021

The number of registrations business entities, both natural and legal persons, increased in the first quarter of 2021 by 86.49 pct, to 55,538, compared to the similar period of the previous year, of which 37,701 are limited liability companies (SRL), according to the data centralized by the National Trade Register Office (ONRC).Most registrations were reported in Bucharest, namely 8,480 (plus 69.23 pct compared to January-April 2020), and in the following ...

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