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ALUM invests in reducing energy consumption

Wednesday, October 24, 2018

ALUM S.A,  the only calcined alumina producer in Romania, continues its modernization and upgrading programme, by investing USD 14.4 million this year in environmental protection measures, technological processes, reduction of the specific consumption of heat, electricity and raw materials and for products diversification, romaniajournal.ro informs. Besides the technological upgrade with a direct impact on specific consumption, the Company has a USD 1.7 million programme to increase its ...

CFR Marfa risks bankruptcy if European Commission's investigation indicates illegal state aid

Wednesday, October 24, 2018

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Rail freight operator CFR Marfa will lose an important share of the market and could even go bankrupt if the European Commission finds, following its ongoing investigation, that the railway operator received illegal state aid, Vasile Seclaman, director of the Railway Supervision Department of the Competition Council, told a Wednesday's relevant conference."From the information I have, if it is declared illegal state aid, CFR Marfa will have to repay the amount and this means a ...

NEPI Rockastle sets opening date for EUR 40 mln mall in Satu Mare

Wednesday, October 24, 2018

NEPI Rockcastle, the biggest mall owner in Romania, will open its 18th shopping center in Romania, Shopping City Satu Mare, on December 6. The new mall has a leasable area of some 26,000 sqm and required an investment of EUR 40 million. The project brings together 90 brands, some of which will open their first shops in the region. The list of retailers includes Carrefour, New Yorker, LC Waikiki, Douglas, Orsay, CCC, Kenvelo, Office Shoes, Smyk, Noriel, Hervis, Intersport, ...

Tiriac prepares to sell his leasing company

Wednesday, October 24, 2018

Romanian billionaire Ion Tiriac prepares to sell his leasing company Tiriac Leasing. He has hired the famous investment bank Rotschild as consultant for the sale, according to market sources cited by ...

FintechOS gets accepted into Microsoft accelerator in London

Wednesday, October 24, 2018

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Romanian fintech start-up FintechOS was accepted into the Microsoft accelerator program in London. FintechOS is also the first Romanian start-up that joins the Microsoft UK accelerator, after having passed a complex registration and selection process. As a result, the FintechOS platform will be listed in the global Microsoft marketplace, visible to a network of over 40,000 partners selling and implementing Microsoft technologies. It will also get mentorship on developing ...

SMEs, micro-enterprises can access funds of over 29 million euros to develop IT&C projects

Wednesday, October 24, 2018

More than 29 million euros are available for small and medium-sized enterprises (SMEs) in the field of information technology (IT & C) for the development of research and development projects under state-aid schemes, Minister of Communications and Information Society Bogdan Cojocaru told a news conference on last Wednesday."As we can see every day, the IT & C sector is on the rise, and we see its contribution to the formation of the Gross Domestic Product (GDP), which is ...

ARC 2018 study confirms Implico’s position as market leader for terminal automation systems in EMEA

Wednesday, October 24, 2018

 International software and consulting company Implico once again is the leading provider of terminal automation systems in Europe, the Middle East and Africa (EMEA), the company informs în a statement sent to ACTMedia. This has been shown by the latest analysis of the ARC Advisory Group published in October 2018. According to the regularly published study, Implico has been number one in the terminal automation systems business in the EMEA region since 2010. The current ...

Crisis in the labour market: 10,000 workers from outside the EU in Romanian restaurants in one year

Wednesday, October 24, 2018

The number of workers from outside the European Union in local restaurants will exceed 10,000 within a year, Daniel Mischie, CEO of the restaurant group City Grill, estimated in an interview ...

Sanjeev Gupta, the Indian businessman who buys Sidex Galati

Wednesday, October 17, 2018

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The British group Liberty part of the World Alliance GFG belonging to the business man Sanjeev Gupta announced on Friday 12 October an agreement for the purchase of four siderurginal units in Europe: the Czech Republic, Skopie, Italy and Sidex Galati. Sanjeev Kumar Gupta, a businessman of Indian origin, is the founder and CEO of the company Liberty House, which had in 2017 a turnover of almost 15 billion Dollars. He also  leads GFG (Grupta Family Group), with over 14,000 ...

Epta takes over Romanian commercial refrigeration suppliers

Wednesday, October 17, 2018

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Italian group Epta, which specializes in commercial refrigeration services, has purchased a majority stake in Romanian company Daas, a supplier of commercial refrigerators and one of the biggest suppliers in the local HoReCa sector, according to an official announcement. Following this deal, Epta will control 90% of Daas and local investors Lucian Negroiu and Daniel Mocanu will hold 5% each. Daniel Mocanu founded the company 25 years ago and has been managing it as general ...

Bosch moves service center in Timisoara to new office building

Wednesday, October 17, 2018

Bosch Service Solutions, the local BPO (business process outsourcing) division of German group Bosch, has moved its center in Timisoara to the ISHO office project. Located in the center of the city, the project has been developed by Mulberry Development, a company controlled by local investor Ovidiu Sandor. Bosch has leased 6,600 sqm of office space on four floors and has invested about EUR 1 million in furnishing the new offices, which will accommodate about 850 work ...

Only one Romanian company in Deloitte’s Fast 50 ranking 2018

Wednesday, October 17, 2018

Only one Romanian company was included this year in Deloitte’s Technology Fast 50 Central Europe ranking of the most dynamic IT companies in the region, down from three in 2017, four in 2016 and ten in ...

Saint-Gobain reopened the EUR 5 mln. Fiberglass mineral wool from Ploiesti

Wednesday, October 17, 2018

The Saint-Gobain Group in Romania announces the resumption of production at the Fiberglass mineral wool line at the Isover plant in Ploiesti, following an investment of EUR 5 million, http://business-review.eu reports. After a massive technological upgrading, the glass fiber mineral fiber production line re-opened in August almost two years after the temporary cessation of activity, creating 50 new direct jobs and ...

Medicover completes acquisition of Phoenix Medical Center

Wednesday, October 17, 2018

Medicover has completed the acquisition process of the Phoenix Medical Center, a network of eight private medical units offering services in the Oltenia area, http://business-review.eu/ informs. As a result of this transaction Medicover expands its presence in a region with a high potential for growth. This is the third largest transaction of the Swedish group in Romania this year after the Pelican Hospital in Oradea ...

Jumbo reaches EUR 100 million in sales in Romania

Wednesday, October 17, 2018

Greek toys and decorations retailer Jumbo increased its sales in Romania by more than 53 percent in the fiscal year ended on June 30, up to EUR 100.6 million, http://business-review.eu reports. Its Romania activities contributed to about 13.4 percent to the group’s sales. In the 2017-2018 fiscal year, ended in June, Jumbo had a pre-tax profit of EUR 33.45 million – almost 58 percent higher than the profit ...

Women make up slightly more than a third of Romanian shareholders

Wednesday, October 17, 2018

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According to data from the National Trade Registry Office (ONRC), there were 496,970 women who were shareholders or associates in Romanian companies – a 37.23 percent share of the total shareholders in the country. In the 904,337 companies in Romania, 837,976 shareholders were men. In terms of regions, the data showed that Tulcea County had the highest share of women shareholders, with 41,25 percent (of the 6,996 companies), while the lowest number of female ...

Number of newly set up foreign capital companies down 5.14 pct, 8 months in

Wednesday, October 17, 2018

 The number of newly set up companies running on foreign capital in Romania went down by 5.14 percent in the first eight months of 2018, compared with the same period of the previous year, to 3,748 units, according to data with the National Companies Registry Office (ONRC).The 3,748 new companies had a paid-up capital of more than 38.8 million US dollars, up 13.8 YoY.According to ONRC, there were 411 startups running on foreign capital, founded in August, most of ...

PwC Survey: No authority in place in Romania directly tasked with coordinated implementation of economy digitization strategy

Wednesday, October 17, 2018

Romania doesn't have an authority in place that is directly responsible for the coordinated and consistent implementation of the economy digitization strategy, concludes a Survey on national digital governance by PricewaterhouseCoopers (PwC) presented on Thursday at a specialist conference organized by the Romanian Banks Association. According to the document, the implementation of digital governance has been negatively influenced by existing legislation gaps, as national ...

Policolor will double production capacity with new factory

Wednesday, October 17, 2018

Policolor, one of the biggest varnishes and paints producers in Romania, will increase its production capacity 2.3 times with the opening of a new factory in Western Bucharest. The new unit, which requires an investment of EUR 5.4 million, should be completed in April 2019. It will be located on a land plot of 2.5 hectares on Timisoara Boulevard, in the western side of the city. The new factory will increase the company’s production capacity from 11,000 tons to 26,000 ...

Over half of the biggest 100 SEE companies are from Romania

Wednesday, October 17, 2018

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Romania has 51 companies in the ranking of the biggest 100 companies in Southeastern Europe (SEE), based on 2017 revenues, romania-insider.com informs. Slovenia has 13 companies, Serbia has 12, Croatia – 11, Bulgaria – 10, Bosnia – 2 and Macedonia – 1. Romanian car maker Dacia maintained its top spot in this ranking, with a turnover of EUR 5.02 billion, up by 12% compared to 2016. Dacia has been first in this ranking ...

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