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Romania, talks in Brussels about ArcelorMittal’s acquisition of Ilva

Wednesday, May 23, 2018

Deputy Prime Minister Viorel Stefan met with Commissioner Margrethe Vestager, in charge of competition policy in Brussels, the discussions at the meeting being related to the implications of the European Commission’s decision on conditional approval of the acquisition of Ilva by ArcelorMittal, as gov.ro informs in a press release quoted by romaniajournal.ro. In this context, Deputy Prime Minister Viorel Stefan reiterated the special attention ...

Sometra invests USD 40 million in new plant in Romania

Wednesday, May 23, 2018

Sometra, a zinc oxides and clinker producer in Sibiu county, will invest USD 40 million in a new, environment-friendly production facility in Copsa Mica, the company announced quoted by romania-insider. com. The new facility will be built from scratch on the site of the existing nonferrous metals plant. The greenfield investment will deploy technology that allows ecological recycling and the transformation of the landfill slag into two saleable ...

Bosch Romania sales up by 26 pct in 2017, to RON 1.9 bln

Wednesday, May 23, 2018

Bosch, the global leader in technology and service provision, ended the fiscal year 2017 with consolidated sales of RON 1.9 billion (EUR 416 million) in Romania, which represents an increase of 26 percent over the year previous, http://business-review.eu informs. Net sales of RON 4.2 billion (EUR 931 million), including sales of ...

Russians want to sell part of Alro Slatina shares

Wednesday, May 23, 2018

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Vimetco Group, registered in the Netherlands, which holds the majority stake in the Slatina-based Alro, and controlled by Russian magnate Vitaly Machitski, is exploring strategic options for a potential decrease of its ownership stake in the only Romanian aluminium producer, romaniajournal.ro informs. “The company has been informed by its majority shareholder – Vimetco N.V., which currently holds 84.1898 percent of the company’s share ...

RCS & RDS, called in front of Vienna Arbitral Centre by the former Czech subsidiary

Wednesday, May 23, 2018

In March 2018, Yolt Services, the former Czech subsidiary of RCS&RDS, filed against the Romanian company a claim for indemnification in front of the Vienna International Arbitral Centre (VIAC), the the parent company Digi Communications announced in the financial ...

Romanian Post to trade government securities to the public

Wednesday, May 23, 2018

The Romanian Post will be authorized by the Government to trade sovereign bond to the public, and the conditions for the sale and payment of maturity obligations for these securities will be similar to those in force for Treasury units, Ministry of Public Finance (MFP) announced, romaniajournal.ro reads. The indicative loan ceiling for this year is about RON 4 billion. The bond issues have been conducted so far under the FIDELIS program, through the ...

Romaero to train with drones provided by Israel’s Aeronautics Group

Wednesday, May 23, 2018

State-owned company Romaero has signed a memorandum of understanding with Israel’s unmanned aerial systems (UAS) company Aeronautics Group for maintaining UAS on Romanian soil and cooperate in training and instruction.  According to the Israeli company, it will provide the Romanian company with the most advanced technological systems in the world. “Aeronautics Group presents highly efficient and cost-effective aerial solutions. We are ...

Government promises state aid for companies with high unemployment rates and give interest-free loans to the young

Wednesday, May 23, 2018

The Government has launched its Legislative Program for 2018 in which a “legislative priority” is represented by a draft law on the establishment of the “State aid scheme for the construction of service housing”, http://business-review.eu informs. The project aims to reduce labor shortages in the major economic centers of Romania, stimulate employment ...

Elefant.ro expands operations in the Republic of Moldova

Wednesday, May 23, 2018

The online store elefant.ro has announced that it will expand its operations in the Republic of Moldova with the objective of offering its clients a larger range of products and better access to dedicated services, http://business-review.eu informs. The company launched its first delivery point in Chisinau three years ago, and in April 2016 its elefant.md online store became operational. Starting this month, the ...

Rafael Signed Agreement with Romanian Company

Wednesday, May 23, 2018

Israel’s Rafael Advanced Defense Systems Ltd., a global leading defense company, has signed a teaming agreement with ROMAERO, Romania’s largest government-controlled Aerospace & Defense Industry on May 16, 2018, i-hls.com informs. As part of their new partnership, Rafael and ROMAERO will consolidate a local partnership to facilitate local production and knowledge transfer geared towards various Romanian acquisition programs.The cooperation will enable ...

Romanian tech “unicorn” UiPath opens new center in Cluj-Napoca

Wednesday, May 23, 2018

UiPath, a company that specializes in Enterprise Robotic Process Automation (RPA), which was recently valued at over USD 1 billion, announced it would open its second center in Romania, in Cluj-Napoca, romania-insider.com informs. UiPath, which launched in Bucharest and also has development centers ...

Medicover buys majority stake in Romania's Spitalul Pelican

Wednesday, May 23, 2018

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Medical services provider Medicover Group said on Tuesday it has signed an agreement to acquire a stake of 80% in Romanian healthcare services provider Spitalul Pelican for 23 million euro ($27.5 million), seenews.com informs. Spitalul Pelican is based in Oradea, in northwestern Romania. The acquisition will turn Medicover into the leading private provider in the region, with a total catchment area population of around 1.0 ...

Oil Terminal Constanta profit goes down to 17,000 lei

Wednesday, May 16, 2018

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Oil Terminal Constanta, the operator of state owned oil terminal in the Black Sea reported a net profit of 17,000 lei in the first quarter, 2018, about 400 times smaller than the net profit of 6.77 million lei obtained in the same period of 2017, according to data sent by BVB on Monday. The net business figure dropped by 8%, to 33.78 million lei in the first three months of the year. Compared to the level obtained on March 31, 2017, the business figure ...

Cemacon businesses go up by 86% in Q1, to 21.49 million lei

Wednesday, May 16, 2018

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Cemacon brick producer (CEON exchange symbol) achieved a net business figure of 21.49 million lei, 86% higher than in the same period of 2017, when it was 11.56 million lei, according to data sent by BVB. The company made a net profit of 6.18 million lei, from losses of 126,606 lei in the first quarter, 2017. Cemacon representatives say the the exchange capitalization value doubled in the last 15 ...

Net Alro profit goes up by 39% in Q1

Wednesday, May 16, 2018

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Alro Group, one of the largest manufacturers in Europe, recorded a net profit of 125 million lei in Q1 of the year, 39% more compared to a net profit of 90 million lei in the same period of 2017. The business figure of the group went up by 10% in the first three months, to 749 million lei, compared to 681 million lei, in Q1 of 2017. In Q1, 2018, the international aluminium market continued the tendency recorded in the second half of 2017, aluminium ...

Eurostat: Romania ranks 8th in EU in terms of investment to GDP despite a sharp decline

Wednesday, May 16, 2018

Romania ranked 8th last year among the 28 European Union member states in terms of investment to gross domestic product (GDP) ratio, despite a sharp decline during the last decade, Eurostat data show quoted by business-review.eu. “Among the EU Member States, in 2017 investment accounted for a quarter of GDP in the Czech Republic (25.2 percent) and Sweden (24.9 percent). Estonia (23.7 percent), Austria (23.5 percent), Ireland (23.4 percent), ...

Dacia reports turnover exceeding 5bn euro in 2017

Wednesday, May 16, 2018

Dacia reported last year a turnover exceeding 5 billion euro, by 11pct higher than the one in 2016, according to Liviu Bocsaru, the administrative and financial manager of the company."The turnover in lei increased by 11.45pct as compared to 2016. Last year, Dacia recorded a turnover of 23.1 billion lei (5.1 billion euro)," Bocsaru said in an interview posted on the carmaker's website on Monday.According to the same sources, exports of vehicles and car ...

DefMin Fifor: Aerostar Bacau set to turn into regional aircraft maintenance hub

Wednesday, May 16, 2018

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The Bacau-based Aerostar company could become a regional hub as provider of aircraft maintenance services, Minister of National Defence Mihai Fifor said on Friday on the occasion of a visit to the company premises.Fifor said that the Romanian Army has several programs underway with Aerostar, and that the cooperation will also carry on for the 36 F16 multirole fighters Romania plans to acquire. "What's for sure is that we will definitely work with ...

German pharmaceutical group B. Braun starts EUR 120 mln factory in Romania

Wednesday, May 16, 2018

German pharmaceutical group B. Braun has started work on its new factory in Romania in which it will invest EUR 120 million. The factory, which is the group’s biggest greenfield investment in Romania, is located in Sanandrei village in Timis county. The project, which was announced in April 2017, will include a regional distribution center, a research & development center and scientific services, an office center and a ...

Retailer Mega Image’s sales, up 20% in Romania in first quarter

Wednesday, May 16, 2018

Supermarket chain Mega Image increased its sales in Romania by 19% in the first quarter, due to an 11.9% increase in existing shops and network expansion, romania-insider.com informs. Mega Image thus contributed to the 4.7% increase in Ahold Delhaize’s sales increase in Central and Eastern Europe (CEE) in the first quarter. The group reached sales of EUR 1.44 billion in the ...

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