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Business dissolutions down 18.91 pct this January

Wednesday, March 6, 2019

Business dissolutions were 18.91 pct down this January from the same month of the year before, standing at 2,505 compared to 3,089 in 2018, shows data centralized by the National Trade Register Office (ONRC).Bucharest tops the list with most company dissolutions - 432 (by 17.4 pct less compared to January 2018), followed by the counties of Constanta - 136 (- 6.21 pct), Cluj - 118 (- 6.35 pct) and Timis - 99 (- 27.74% pct). The counties with the least number of dissolutions are ...

Impact recorded a net profit of RON 20.7 million in 2018, down by 60 percent

Wednesday, March 6, 2019

IMPACT Developer & Contractor ended the year 2018 with an operating income of RON 101.8 million from the sale of apartments, parking lots, land and houses. Of the total number of dwellings traded, the bulk (228 apartments) was sold at Greenfield Baneasa. The net profit was RON 20.7 million, down 60 percent compared to 2017, and most of it was made in the last quarter of the year.  In addition to the purchase contracts reflected in the financial reporting, last year, 197 sale ...

Postal Office requests insolvency of its own insurance broker

Wednesday, March 6, 2019

The Romanian Postal office has requested the insolvency of PRBA, the national postal operator’s insurance broker. The company’s representatives made this decision as a result of analyzing the legal debt recovery options that PRBA had to register with the company. The broker has registered losses of RON 4 million in the last five years and receivables of RON 2 million. In October 2014, the Romanian Post launched its own insurance broker, willing to implement innovative ...

German company Mennekes enters Romanian market

Wednesday, March 6, 2019

German industrial electrical products manufacturer Mennekes has entered the Romanian market with a firm that will serve the auto industry, according to Profit.ro quoted by http://business-review.eu. Mennekes has annual revenues of over EUR 100 million and operates in around 90 countries. The company was ...

Cefin Trucks posted EUR 40 M turnover in 2018

Wednesday, March 6, 2019

Cefin Trucks, the only importer and distributor of Ford Trucks in Romania, announces that it has become a leader in the construction vehicles market as well as the municipal vehicles segment, due to the results achieved in 2018. The stake for 2019 is a significant increase of its market share and of the segment of tractor heads for international transport, which represents over 75% of the total sales on the Romanian market. The main attraction in Cefin Trucks portfolio is the new F-MAX, ...

PwC Report: Romania's M&A market down 12 pct in 2018 to 5 bln euro

Wednesday, March 6, 2019

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The worth of Romania's M&A market was 5 billion euro in 2018, down 12 pct year-on-year, shows the PwC Romanian M&A Outlook report presented on Wednesday at a specialist conference.According to the document, the decline recorded in comparison to 2017 was in line with the evolution of the Central and Eastern European market.In terms of volumes, the more than 170 transactions registered last year in Romania stood at an aggregate of about 5 billion euro; the ...

Ericsson to take over two Kathrein plants in Timisoara

Wednesday, March 6, 2019

The Swedish telecom company Ericsson is to take over the antenna and filter business in Timisoara from Kathrein company, two plants in Timisoara, with over 2,000 employees. The announcement was made public in Barcelona, where the MWC fair is taking place. The takeover includes over 4,000 employees in 20 locations in Germany, Romania, the United States, Mexico and China, capital.ro reports. Timisoara Mayor Nicolae Robu has sent a message on Facebook announcing to the ...

Business, the biggest legal persons in insolvency worth 5.18 billion lei in 2018

Wednesday, February 27, 2019

Over 18,400 employees were affected by the insolvency procedures included in 2018 with big entitites, and the total turnover of the 200 legal persons in this procedure goes up to 5.18 billion lei, stated Stan Tirnoveanu, prime-vice-chairman of the National Union of Practitioners in Insolvency (UNPIR).‘The data of the Register of Commerce show that in 2018 there were in insolvency 8,304 professionals, against 9,100. As number we are ok, as an effect we shall ...

Tim Hoffmeister to become CEO of Implico Group: Focus lies on strategic development

Wednesday, February 27, 2019

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 Tim Hoffmeister takes over the newly created position of Chief Executive Officer (CEO) of Implico Group. In addition to managing the finance and controlling department, he is now also responsible for the administration and human resources divisions. Tim Hoffmeister joined the software and consulting company, which specializes in the downstream oil and gas industry, as Chief Financial Officer (CFO) in September 2018. Since then, he and his fellow ...

Number of insolvencies down 33.6 pct in January 2019; suspensions, dissolutions down 32.69 pct

Wednesday, February 27, 2019

The number of companies and individuals facing insolvency dropped by 33.6 per cent in January 2019 compared to the same period of the previous year, down to 500 insolvencies, according to data released by the National Trade Register Office (ONRC).Most companies and individuals in insolvency were recorded in Bucharest, namely 95, down 42.07 per cent compared with the same period in 2018. Coming next are the Bihor County - with 48 insolvencies (-29.41 per cent), ...

Zitec posted EUR 6 M revenues in 2018, up by 22 pc as against 2017

Wednesday, February 27, 2019

Zitec, IT leader in Romania, specialized in developing customized software solutions and services, has concluded 2018 with revenues of over EUR 6 million, up by 22% as the previous year. For 2019, the company plans to develop the recent partnerships in the RPA (robotic process automation) and IoT (Internet of Things) sectors, to increase its activity on the UK and US markets and to launch Mirro.io, a new Zitecproduct, in the first half of the ...

Orbis Group announces positive results in Romania

Wednesday, February 27, 2019

2018 has been another record year in terms of all Orbis strategic goals: financial performance, portfolio development and talents engagement, the Group has announced on Monday quoted by romaniajournal.ro. At the end of 2018, Accor announced a tender offer on Orbis shares aiming on replicating active asset management strategy implemented by Accor for several years. Eventually Accor strengthened its position in the company’s shareholding up to ...

Bittnet Group triples net profit in 2018, reaching RON 4.88 M

Wednesday, February 27, 2019

On February 22nd, Bittnet (BNET) has published the Group’s preliminary financial results for fiscal year 2018. The economic cycle and the capital markets were favorable to Bittnet as the Group has registered consolidated revenues of RON 54 million, an increase of ...

Some 7,250 companies are today alive, working, making profit due to Start-Up Nation program

Wednesday, February 27, 2019

A number of 7,250 companies are today alive, working and making profit for both the entrepreneur and the Romanian economy following the launch of the Government's Start-Up Nation program, the Minister for the Business Environment, Trade and Entrepreneurship, Radu Stefan Oprea, told a press briefing held together with the Director General of the World Trade Organization, Roberto Azevedo."Start-Up Nation is a program that aims to create 10,000 new companies each ...

No-deal Brexit scenarios in Romania: tariffs could hit exports to the UK, restrictions to business travels

Wednesday, February 27, 2019

The Romanian Ministry for Business Environment has presented to the local entrepreneurs some of the scenarios in case of a no-deal Brexit next month, indicating that tariffs could hit exports to the United Kingdom, while restrictions to business travels should be considered, http://business-review.eu informs. The withdrawal of the UK from the European Union without agreement will mean returning to the provisions ...

Footwear manufacturer Rieker Romania stops activity in Lugoj factory

Wednesday, February 20, 2019

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Footwear manufacturer Rieker Romania announce it would stop manufacturing at Lugoj factory, Timis county, because of high costs, lack of labour force and productivity drop. As a result, about 700 employees will lose their jobs. The labour market is very dynamic and competitive in Timis county and will be even more competitive, which means costs with labour force will grow, on the background of a fight to attract employees. We ...

Activity of Alexandria bearing factory restricted

Wednesday, February 20, 2019

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The biggest private employer in Teleorman county, the bearing factory from Alexandria, will restrict its activity because of the lack of orders and problems faced by car manufacturers, at world level. Koyo Romania leaders decided that employees should go  on vacation every two days, for 3 months. According to the union leader from Koyo Alexandria, Nicusor Grigore, there have been several variants but the measure was adopted ...

WDP builds a 60,000 m² warehouse for Pirelli in Slatina

Wednesday, February 20, 2019

WDP will be expanding the car tyre manufacturer’s existing production facility in Slatina (RO) with a 62,000 m² state-of-the-art new-build warehouse, romaniajournal.ro reads. The project forms part of an ongoing expansion of Pirelli’s – listed in Italy – largest and most important production facility. The newly built warehouse will be constructed right next to the existing Pirelli facility in Slatina, and both will be directly connected. ...

The share of the private sector in the GDP is almost 80%, BVB chief says

Wednesday, February 20, 2019

The share of the private sector in the Gross Domestic Product (GDP) is almost 80%, Lucian Anghel, President of the Bucharest Stock Exchange (BVB) said on Monday, on the occasion of launching the third edition of the ‘Made in Romania’ project. “The share of the private sector in the GDP in Romania is almost 80%. So, this private sector is essential for increasing the welfare, for having more jobs and added value. This is the starting ...

Total revenues of Medicover, Synevo in Romania up by over 27% in 2018

Wednesday, February 20, 2019

Medicover Swedish private healthcare provider has announced the financial reports of the group and of the subsidiary in Romania for last year. The total revenues on the Romanian market have increased by 27.1% up to EUR 93.8 million in 2018 as against EUR 73.8 M reported in 2017. Romania is the third market on revenue ration worldwide, after Germany and Poland, posting a ration of 13.9%. According to Adrian Peake, general manager ...

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