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IKEA Romania’s revenues growth by 14 pct in financial year 2017

Wednesday, December 6, 2017

IKEA Romania’s revenues increased by 14 percent in financial year 2017 ( September 1, 2016- August 31, 2017) and sales reached RON 586.59 million, without VAT.  During this time, over 3.3 million people visited IKEA store in Romania and over 7.5 million sole visitors accessed the site www.IKEA.ro, business-review.eu informs. “We are proud of the excellent ...

Romania's IT industry could grow at an annual pace of 9 percent until 2025

Wednesday, December 6, 2017

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Romania's IT industry could grow at an annual pace of 9 percent until 2025 and cooperation among the relevant entities is the key to the future, president of the Smart Alliance cluster Gabriel Munteanu told the Smart Alliance Innovation Summit on Thursday. "Apart from being the largest and most innovative entity in Bucharest, the Smart Alliance cluster represents innovation. The idea of a collaborative cluster, of collaborative business is iconic for the ...

Vitruvian Partners investment fund has purchased rd 30pct of Bitdefender from Axxess Capital

Wednesday, December 6, 2017

The Vitruvian Partners investment fund has purchased rd 30pct of Bitdefender from Axxess Capital, thus becoming the second biggest shareholder of the company evaluated at over USD 600 million, the software producer announced in a release sent on Friday ...

Germany's Fuchs to acquire lubricants business of Romania's Lub Asyst

Wednesday, December 6, 2017

German high-grade lubricants producer Fuchs Group said on Thursday it will acquire on December 1 the lubricants business in Romania of Lub Asyst, a Bucharest-based distributor of Fuchs industrial oils and greases, seenews.com informs. "The acquisition includes the customer base and the workforce, in particular. Lub Asyst's business will supplement Fuchs' existing business in Romania, which will now be combined in the recently established Fuchs ...

Penta Investment close to acquiring largest pharma group in Romania

Wednesday, December 6, 2017

Czech investment fund Penta Investment is close to acquiring A&D Pharma, the largest pharma group in Romania, in a deal estimated at EUR 300-400 million. The agreement could be signed by the end of this year, according to market sources cited by ...

Only 1 in 5 Romanian SMEs capitalize the export opportunities

Wednesday, December 6, 2017

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Only 20 percent of the Romanian SMEs (1 in 5) capitalize the export opportunities, contributing to 25 percent of the total exports in Romania, according to a study made in September by UPS and Kantar Millward Brown, business-review.eu informs According to the study, most of the exporting SMEs are in Bucharest and Western developing region, which includes the counties Timis, Arad, Hunedoara and Caras Severin. The study includes ...

DIY retailer Kingfisher completes buy of Praktiker Romania

Wednesday, December 6, 2017

London-based do-it-yourself (DIY) retailer Kingfisher said on Monday it has completed the acquisition of Praktiker Romania for an undisclosed sum, after receiving the approval of country's competition authority, seenews.com informs. Kingfisher has bought all Praktiker Romania shares from the Susli family, it said in a press release. The family bought the Romanian operations of the German DIY retailer three years ago, after the ...

Brico Depot Romania concludes takeover of Praktiker Romania

Wednesday, December 6, 2017

DYI player Brico Depot Romania, part of Kingfisher, has concluded the acquisition of Praktiker Romania from the Susli family, business-review.eu informs. The initial acquisition announcement was made in August. “The acquisition of ...

Telekom Romania Group's mobile operations moved under one umbrella beginning December 1

Wednesday, December 6, 2017

Telekom Romania Group's mobile operations moved under one umbrella beginning December 1, following the absorption by Telekom Romania Mobile Communications SA of Germanos Telecom Romania SA, Sunlight Romania - Bucharest branch SRL and Telemobil SA, the telecom operator said in a release. The merger of our mobile operations is an important step in the transformation program initiated this year, in line with our strategy of strengthening our position on the ...

Ambassador Derek Feely: increasingly more Irish companies are becoming interested in the Romanian market

Wednesday, November 29, 2017

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Irish Ambassador to Bucharest Derek Feely said in Targoviste on Thursday that increasingly more Irish companies are becoming interested in the Romanian market, while underlining that Romania's economy is growing quite fast. "It is a pleasure and an honor for me to be here today (Thursday, editor's note) in Targoviste, in Dambovita County. I was very pleasantly surprised by the warmth with which I was received in this county, where I have already had several meetings, ...

Ericsson names new Romania country manager

Wednesday, November 29, 2017

Swedish telecoms equipment maker Ericsson on Wednesday named Dragos Mircea Rebegea as new country manager for Romania, seenews.com informs. Rebegea will also be responsible for the company's sales teams in Romania and neighbouring Moldova, Ericsson Romania said in a press release. "Romania is one of the most dynamic telecommunication markets in Europe. I am excited to be able to lead a highly talented local team, helped by a portfolio of 4G, 5G, cloud and top IoT ...

Commercial companies and authorized persons in insolvency increased by 8.85% in the first ten months of 2017

Wednesday, November 29, 2017

The number of commercial companies and authorized persons in insolvency increased by 8.85% in the first ten months of this year compared to the similar period in 2016, to 7,344 units, according to the data posted on the website of the National Trade Register Office (ONRC). Most of the companies and authorized persons in insolvency are in Bucharest, respectively 1,601, up 17.46% compared to January - October 2016, followed by the counties of Iasi, with 433 (+19.23%), Bihor, ...

Romania’s Competition Council analyzes joint venture for armored vehicles

Wednesday, November 29, 2017

Romania’s Competition Council will analyze the operation by which Romania’s defense contractor Romarm and German group Rheinmetall Landsysteme will set up the Romanian Military Vehicle Systems company. Each shareholder will have a 50% stake in the firm, romania-insider.com reads. The Romanian Military Vehicle Systems will aim to develop, manufacture and equip the Romanian Army with the AGILIS 8×8 armored vehicles. However, the company first needs the Competition ...

Philip Morris starts production at its new HEETS plant in Romania

Wednesday, November 29, 2017

Tobacco company Philip Morris International (PMI) said on Monday it has started production at its high-tech smoke-free products manufacturing plant in Otopeni, Romania, seenews.com informs. The company aims to reach an annual production capacity of around 100 billion units of HeatSticks at the Otopeni factory by 2018, it said in a press release. Otopeni is located some 15 km away from Bucharest. In July, PMI announced that it will invest 490 million euro ($584 million) to ...

Newly established businesses with foreign capital has grown in the first ten months of 2017, by 10.7pct

Wednesday, November 29, 2017

The number of the newly established businesses with foreign capital has grown in the first ten months of 2017, by 10.7pct against the similar period of 2016, to 4,895 units, the data released by the National Trade Register Office (ONRC) read. The 4.895 businesses clustered over USD 35.9 million in share capital, up by 8.9pct as compared to January-October 2016. In 2016, Romania recorded the weakest year in last 18 as regards the newly established foreign ...

BNR: Companies sector in Romania is weakly developed compared with the local market size

Wednesday, November 29, 2017

Companies sector in Romania is weakly developed compared with the local market size and the other socialist European countries, according to a presentation of the vice-governor on National Bank of Romania (BNR), Florin Georgescu, business-review.eu informs. According to him, there are 2.2 SMEs to one hundred citizens and the EU average is 4.5 firms. In Czech Republic there are 9.4 SMEs, in Slovakia there are 7.5, in Slovenia 6.4, in Lithuania  5.4, Hungary 5.3, Latvia, ...

AFI Europe Romania ups revenues by 10%

Wednesday, November 29, 2017

Real estate developer AFI Europe Romania recorded a net operating income of over EUR 37 million in the first nine months of this year, up 10.4% over the same period last year, romania-insider.com informs. The value of revenue-generating assets AFI Cotroceni and AFI Ploiesti shopping malls, as well as the five office buildings of the AFI Park project amounted to EUR 735 million during this period, up 7.5% year-on-year. The number of ...

Alro signs a three-year USD 167 mln credit facility

Wednesday, November 29, 2017

The aluminium producer Alro S.A. (BSE: ALR, „Company” or „Alro”) has signed a three-year USD 167 million credit facility, business-review.eu informs. The deal extends with three years its existing USD 137 million revolving credit facility from December 2015 and adds a new USD 30 million letter of credit line. This  facility aims to fund the working capital needs of the company, while the additional non-cash facility is intended to be used for issuing LCs ...

Romanian needs to simplify legislation to support SMEs – EC

Wednesday, November 29, 2017

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Romania should continue to reform and simplify its legislation in order to help small and medium sized enterprises (SMEs) grow and become more competitive, the European Commission said, seenews.com reads. Further reforms should continue, together with consolidation and enforcement of existing ones, with a view to promoting internationalisation, fostering innovation and ICT skills, and boosting SMEs’ confidence in e-commerce transactions, the European Commission said on Thursday ...

Egyptian group Pico Group wants to expand in Romania

Wednesday, November 22, 2017

Romanian business environment minister Ilan Laufer met in Egypt with Tawfik Diab, president of Pico Group, one of the largest Egyptian private companies, to discuss the current stage of Pico Group’s investments and “expansion prospects” on the market in Romania, romania-insider.com reads. Pico Group, founded in 1974, is active in agriculture, oil and gas and industrial equipment. The Egyptian group entered ...

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