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Trade Register Office: 76,962 individuals, companies register in H1 2022
Wednesday, August 10, 2022
The number of registrations of natural and legal persons decreased in the first half of this year by 3.48%, compared to the similar period in 2021, to 76,962, of which 57,808 are limited liability companies (SRL), according to data centralized by the National Trade Registry Office (ONRC).The most registrations were registered in the Municipality of Bucharest, respectively 14,082 (plus 16.56%, compared to January-June 2021), and in the Cluj - 4,829 (plus ...
Telekom Romania Mobile in Q2 2022: positive trend continues
Wednesday, August 10, 2022
EBITDA growth for 6 consecutive quarters - 105.5% EBITDA growth yoy; 165% EBITDA growth for H1 2022 compared to H1 2021; Q2 2022 revenues up 4.9% yoy; Customer base up 11.3% yoy – both contracts and prepaid subscribers’ numbers have increased; FCF growth ...
Veeam named by Gartner as a Magic Quadrant Leader and positioned Highest in Ability to Execute? three years in a row
Wednesday, August 10, 2022
Veeam® Software, the leader in backup, recovery and data management solutions that deliver Modern Data ...
Over 3,400 companies and PFAs become insolvent in first six months of 2022
Wednesday, August 10, 2022
The number of commercial companies and authorized natural persons (PFA) having become insolvent increased by 11.9% in the first six months of 2022, compared to the same period last year, with 3,417 insolvencies being registered, according to the data published on the website of the National Trade Register Office (ONRC).Most companies and PFAs having filed become insolvent were registered in Bucharest, respectively 599, down by 0.83% compared to the first six ...
PepsiCo will own 20% of Aqua Carpatica shares
Wednesday, August 3, 2022
The American giant PepsiCo Inc started a strategic accord with Aqua Carpatica, premium Romanian spring water, by which PepsiCo will own 20% of Aqua Carpatica shares. According to the accord, PepsiCo will have the right to distribute spring water in Romania and Poland, with possibilities to expand to other markets, the US included. Aqua Carpatica is a brand created by the Swiss-Greek entrepreneur Jean ...
Competition Council approves transaction by which Romcim takes over Simbeton
Wednesday, August 3, 2022
The Competition Council announced it approved the transaction by which cement producer Romcim took over the company Simbeton. The decision will be made public when data with confidential character will be eliminated. “Following the analysis, the Competition Council found out the operation did not raise significant obstacles for effective competition in the Romanian market or a substantial part of ...
Electromontaj takes over 82.68% of Electrotehnica Electric Equipment shares
Wednesday, August 3, 2022
Electromontaj, a player in the energetic construction market in Romania, announced the conclusion of a transaction taking over the majority package (82.68% of company shares) of Electrotehnica Electric Equipment, the oldest Romanian manufacturer of electric equipment, transformers and coils. Electrotehnica designs and manufactures equipment for various technological applications, of high complexity, ...
AROBS Transilvania Software acquires custom software producers Nordlogic
Wednesday, August 3, 2022
AROBS, the largest tech company listed on the Bucharest Stock Exchange (BVB), purchased Nordlogic, a local group of companies specialized in the development of custom software products and platforms. Nordlogic has offices in Cluj, Oradea, and Seattle, and will now be integrating its more than 60 programmers, developers, and testers into the AROBS Group, which will consolidate its presence in ...
Carrefour, Metro bet on proximity stores in Romania
Wednesday, August 3, 2022
French retailer Carrefour reached 120 stores nationwide in Romania after opening twelve new Express stores in the first half of 2022. Meanwhile, Metro’s La doi Pasi chain is 1,800 stores strong, mainly in rural and suburban areas, but with plans to expand the cities as ...
Dan Sucu, owner of Mobexpert, to take over Mediafax Group
Wednesday, August 3, 2022
Dan Sucu, the owner of Mobexpert furniture producer and retailer and the main shareholder of the Rapid Bucharest football team, completed the purchase of a claim with a nominal value of EUR 11.7 mln against Adrian Sarbu's Mediafax ...
Profit of BCR Group up 50% YoY in H1
Wednesday, August 3, 2022
BCR Group achieved a net profit of RON 1.04 bln (EUR 211 mln) in H1 2022, up by 50.9% against H1 2021, driven by improved operating results underpinned by continued strong loan growth. This was achieved despite stronger provisioning aimed at mitigating the risk faced by certain industries in the given context. Net loans and advances to customers increased by 10.0% YoY to RON 52.6 bln (EUR 10.64 bln) as of 30 June ...
Iulius Group buys precast concrete manufacturer
Wednesday, August 3, 2022
Iulius Group, the largest Romanian owner of modern shopping centres, purchased 95% of the precast concrete manufacturer Build Corp Prefabricate ...
More than 3,500 companies go into insolvency in first six months of 2022
Wednesday, July 27, 2022
More than 3,500 companies went into insolvency in the first half of 2022 in Romania, the processing industry and constructions being the most affected areas, according to an analysis carried out by the leader of the insolvency and restructuring market CITR.The construction sector is significantly affected by the increase in the price of building materials and fuel, the increase in interest rates and the lack of manpower, while the processing industry is influenced by the ...
Cupru Min to receive over 43 million RON for investments
Wednesday, July 27, 2022
The Cupru Min company will receive over 43 million RON for investments, said the Minister of Economy, Florin Spataru, on Sunday, who was on a work visit to this company which is subordinated to the Ministry of Economy."Today we can see the results of the visit I paid to Cupru Min, 4 months ago, when I spoke with the company's leadership about the need of investments in technology, as well as about works for raising the tailings pond dam. Over 43 million RON will be ...
Bento signs a contract for European funds worth RON 25 million
Wednesday, July 27, 2022
Bento, Intellectually Curious, a Romanian entrepreneurial company listed on the AeRO market of the Bucharest Stock Exchange, specialized in the development and implementation of software solutions and the provision of IT and Cloud infrastructure services, announces the approval of a project with European funds worth approximately 25 million lei within the Competitiveness Operational Program (POC) 2014 – 2020, of which approximately 15.1 million lei represent non-reimbursable ...
Arcelor Mittal Hunedoara reduces activity temporarily
Wednesday, July 27, 2022
The Board of Directors of ArcelorMittal Hunedoara (BVB: SIDG), a Romanian steel complex owned by the ArcelorMittal holding, decided to temporarily reduce the company's activity for the period July 23-August 5 and pay 75% of the salary to employees, according to a report to investors. The measure was decided "taking into account the economic difficulties faced by the company caused by the lack of orders and implicitly the production volume, as well as a measure to ...
Chimcomplex inaugurates EUR 40 mln polyols production facility
Wednesday, July 27, 2022
Chimcomplex (BVB: CRC), the largest chemical products complex in Romania, inaugurated a production facility for special polyols, including biopolyols, on its industrial platform in Ramnicu Valcea, under a EUR 40 mln investment. The company's polyols production capacity increases to over 187,000 tonnes per year, making it the sixth-largest producer with 9% of the combined production in Europe. Chimcomplex thus capitalizes on the expertise of the 40-year polyols ...
Alro to suspend alumina production due to high energy prices
Wednesday, July 27, 2022
Romanian aluminium producer Alro [BSE: ALR] said that it would temporarily shut down its alumina plant Alum based in Tulcea due to 'prohibitive' energy prices. The management proposed for the approval of the general meeting of shareholders, which will take place on July 29, 2022, the temporary suspension of ALUM’s alumina production operations, starting with August 1, 2022 for an estimated period of 17 months, the company said in a filing to the Bucharest ...
Etex completes the acquisition of insulation expert URSA
Wednesday, July 27, 2022
Etex, global building material manufacturer and pioneer in lightweight construction, is consolidating the range of products and solutions offered to its clients by acquiring URSA, European leader on the market of glass mineral wool and extruded polystyrene (XPS). By adding URSA to its portfolio, Etex is expanding its capacity to provide solutions and materials to build living spaces that are ever more safe, sustainable, smart and ...
Trade Register: 6,022 companies suspend their activity in Jan-May
Wednesday, July 27, 2022
The number of companies that suspended their activity in the first five months of 2022 was 6,022, up 16.95pct compared to the same period in 2021, according to data published by the National Trade Register Office (ONRC) on Wednesday.The most companies that suspended their activity in the mentioned time interval were from Bucharest, respectively 618 (increasing by 9.77pct compared to January-May 2021), the Capital City being followed by the Iasi counties, with 282 suspended ...