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Austria-based Cineplexx enters Romania
Wednesday, April 24, 2019
Austria-based operator Cineplexx International has announced its entrance on the Romanian cinema market after having bought Grand Cinema & More multiplex within B?neasa Shopping City in Bucharest. According to the company’s press release, the takeover will be effective in the upcoming months and will not affect the current activity of the multiplex. The sale’s value has not been disclosed. Grand Cinema & More ...
Minister Stefan-Radu Oprea: Michelin occupies an important place in the ecosystem of the Romanian automotive industry
Wednesday, April 24, 2019
Minister for Business Environment, Trade and Entrepreneurship (MMACA) Stefan-Radu Oprea on Monday had a meeting with the general manager of Michelin Romania, Stephane Roy de Lachaise, with who he discussed about investments and innovation, informs the MMACA in a press release."Michelin occupies an important place in the ecosystem of the Romanian automotive industry, with total investments worth almost 600 million euros, ...
Antibiotice Iasi posts 8 pct increase in sales revenues in 2018
Wednesday, April 24, 2019
General Shareholders’ Meeting of Antibiotice SA decided in the approval of the audited financial status for 2018, setting up the distribution of the 2018 net profit, as well as the value of the gross dividend per share, according to a company statement. The company’s 2018 audited financial results were in line with strategic objectives with a focus on international scaling, and showed an 8 percent increase in sales revenues to RON 364.5 ...
Entrepreneurship on the rise as startup ecosystem gets upgraded
Wednesday, April 24, 2019
Being your own boss is becoming a more coveted aspiration, with more Romanians interested in starting their own businesses, BR ANALYSIS reads. Although the number of new limited liability companies (SRL) dipped by around 4 percent in 2018, a growing network comprising business accelerators, angel investors, venture capitalists and banks are doing their best to promote entrepreneurship. One in ...
IRSOP study : Almost three quarters of Romanians want to start a home improvement project
Wednesday, April 17, 2019
Almost three quarters of Romanians (72 percent) want to start a home improvement project in the next five years, while 32 percent intend to start one in the next 12 months, according to a IRSOP study for the Association of Housing Banks in Romania (ABDLR). The share of dwellings increases year-on-year as a result of the aging of the buildings, the low rate of current improvements, and also because of the small proportion of new housing that fails to ...
Blockchain StartUp Swazm signs partnership with Maguay, one of the biggest server and storage suppliers in Europe
Wednesday, April 17, 2019
According to a statement sent to ACTMedia, Romanian Blcokchain company Swazm has signed a partnership with ...
CBRE takes over administration of NEPI Rockcastle’s office building portfolio in Bucharest
Wednesday, April 17, 2019
The real-estate consultancy company CBRE took over the administration of the NEPI Rockcastle portfolio of office buildings in Bucharest, totaling 70,580 square meters. This is the first time when NEPI Rockcastle outsources the management of the properties. Thus, CBRE reaches a management portfolio of 770,000 sqm both offices and retail. NEPI Rockcastle gave the management of Floreasca Business Park, The Lakeview and Aviatorilor 8 buildings to CBRE. The ...
Lacoste sells factory in Sibiu County to Chinese giant
Wednesday, April 17, 2019
The French clothing manufacturer Lacoste will sell the factory in Cisnadie, Sibiu County, where nearly 400 employees work, to Sunrise Knits, one of the largest textiles and clothing companies in the world. Inside information from the factory in Cisnadie, Trans Euro Textile, clothing manufacturer for Lacoste, say the employees have been informed that the French owner has sold the factory to the Chinese company Sunrise Kits, part of Youngor group and ...
Agricover posts net profit of RON 13.2 million in 2018
Wednesday, April 17, 2019
Agricover SA, a subsidiary of Agricover Holding, recorded revenues of RON 1.64 billion for the year 2018 and a net profit of RON 13.2 million from agri-business activities (distribution of inputs for agriculture, sowing and trade in cereals and oilseeds ) and agri-food (slaughtering, processing and marketing of pork). EBITDA was up to RON 44.7 million. Agricover is a newly created legal entity in November 2017 following the merger by absorption of ...
Weidmüller takes over LC Electronic in Lugoj
Wednesday, April 17, 2019
Weidmüller, a German group that had a turnover of EUR 823 million in 2018 and a total of 4,900 employees at a global level, has taken over LC Electronic in Lugoj, Timis County, founded by Ioan and Vasile Covaci in 1994, according to profit.ro. LC Electronic manufactures electronic modules and had 130 employees and RON 7.4 million in turnover in 2017. Weidmüller, which was ...
Reynaers Aluminum Romania estimates a 10 percent growth in 2019 for the aluminum joinery market
Wednesday, April 17, 2019
Reynaers Aluminum Romania, part of the European leader in the aluminum sector for the construction sector, estimates a growth of the aluminum joinery market between 5 percent and 10 percent in 2019. At the same time, representatives of Reynaers Romania expect the same percentage growth for the company’s turnover this year. “Trends show that the market has matured, so both our industry and our business are evolving organically, as expected. ...
AROBS Transilvania Software buys HR software provider UCMS Group Romania
Wednesday, April 17, 2019
AROBS Transilvania Software, a specialized provider of outsourced business solutions based in Romania, signed an agreement to acquire human resources management business, UCMS Romania from TMF Group. The company didn’t release the value of the transaction. “We are delighted to be adding two recognized HR products to our offering, adding expertise, cementing growth and providing even better services and products for our clients. We look ...
SVN opens office in Romania, targets top 5 real estate consultants in 2020
Wednesday, April 17, 2019
SVN International Corp, one of the most noted real estate commercial brands in the US, has opened a local office of real estate consultancy to operate under the name of SVN Romania and targeting that in 2020 be in the top 5 real estate consultancy companies in Romania, a company's release reads.The activity of SVN Romania will be coordinated by Andrei Sarbu (CEO) and Ionut Nicolescu (Partner), two consultants counting for over 12 years in real estate and ...
Deloitte: M&A market declines in Q1 2019
Wednesday, April 10, 2019
The Romanian mergers and acquisitions market declined considerably in the first quarter of this year compared to the same period in 2018, when the total value of the market ranged between 200 and 300 million euro, including the transactions that did not have a reported value, according to Deloitte estimates.Based on public sources, the transactions whose value was released amounted to 120 million euro.The number of transactions monitored in the first ...
Flanco’s presence in Romania reaches 100 cities
Wednesday, April 10, 2019
Flanco Retail inaugurated its first store in Odobesti, Vrancea County on Friday, reaching a network of 139 stores located in 100 cities across the country. “With a total area of 116 square meters, the Odobesti shop and its four employees welcomed their first customers with special offers, electro-IT products and state-of-the-art technologies, as well as all the services provided by Flanco at national level – advantageous financing ...
SoftOne posted 35pc increase in turnover last year
Wednesday, April 10, 2019
SoftOne Technologies, Cloud ERP provider and a member of Olympia Group has ended 2018 recording a solid 35% increase in turnover, maintaining the steep growth pace for a third consecutive year, with its Cloud and Mobile solutions accounting for more than 55% of this increase. SoftOne Romania operates a fast-growing network of +40 partners – spreading in 35 counties – providing integrated services to small, midsize and large organizations ...
Falconeri to open first store in Romania
Wednesday, April 10, 2019
Falconeri, the luxury Italian brand specialised in knitwear products, is opening its first store in Romania. The store will be located in Baneasa Shopping City in Bucharest following an investment of EUR 180,000. The opening is scheduled in mid-April.For the first year, the representatives of the brand estimate sales of around EUR 900,000, with an average shopping cart of EUR 250-300. Falconeri is brought in Romania by Futura Lenjerie, a company ...
Mangalia shipyard to build luxury cruise ships and high-capacity boats in the coming period
Wednesday, April 10, 2019
Luxury cruise ships, high capacity boats for oil and sea transport ships will be built in the coming period by the Damen Shipyard in Mangalia. According to a joint press release sent by Damen and the Ministry of Economy, the new major contracts, recently signed, are focused on all three sectors of activity of the Mangalia shipyard: cruise ships, passenger ships and offshore vessels, and attracting new major contracts will make the yard to operate at ...
SWAZM Launches Fastest and Most Scalable Decentralized Infrastructure on the Market
Wednesday, April 10, 2019
Blockchain startup SWAZM has launched an innovative decentralized architecture tailor-made to enable the horizontal scaling of distributed applications (DApps) into mainstream usage. The SWAZM team has developed ...
European Investment Fund provides 170m euros for SMEs, students in Romania
Wednesday, April 10, 2019
The European Investment Fund (EIF) signed on Wednesday four financing agreements in Romania, extending more than 170 million euros to Romania for the development of small and medium-sized enterprises and to credit students who want to continue their studies abroad.EIF and the non-bank financial institution FINS signed a first 4.5 million-euro agreement under the Erasmus+ Master Loan Guarantee Facility in Romania that will allow FINS to credit students who wish to ...