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P&G inaugurates new plant in Romania

Wednesday, April 28, 2021

Procter & Gamble inaugurates a new manufacturing site in Urla?i, Prahova County, today. The new plant will produce Ariel PODS which is the Company’s latest laundry detergent innovation.   By exporting Ariel PODS in many European countries, this greenfield investment is strengthening Romania as a production hub for P&G. Over 200 new jobs will be created while the new plant will introduce modern manufacturing solutions in detergent ...

State aid for Sterk Plast for EUR 5m project

Wednesday, April 28, 2021

REI Finance Advisors, a company specialized in attracting non-reimbursable funds for Romanian companies, has successfully brokered 2,5 million euros in state aid for Sterk Plast, a plastic production company in Romania, part of a 5 million euro investment project.   The project aims to expand the production capacity of the Sterk Plast factory in Medgidia, with a total value of 5 million euros, while the state aid, obtained under the state aid Scheme ...

Optim PM wins project management contract with Continental Automotive Serbia

Wednesday, April 28, 2021

Optim Project Management has been appointed to project manage the construction of a new Continental electronics assembly and manufacturing facility in Novi Sad. The facility will have a GBA of 29,500 sqm and will be built on a 30-ha plot of land. During this contact, Optim PM is providing Design Management, Procurement, Construction Project Management, Health & Safety Coordinator and Site Supervision services.   “Our ...

Allview raises EUR 3.1 mln in private placement and will list shares on BVB

Wednesday, April 28, 2021

Romanian company Visual Fan, which produces electronic devices such as smartphones, smart TVs, and smart home solutions under the Allview brand, raised RON 15.5 mln (EUR 3.1 mln) in a private placement of shares on Friday, April 23.   The placement, managed by local brokerage firm Tradeville, was over six times oversubscribed as investors placed orders worth RON 99.2 mln (EUR 20 mln). The minimum subscription was 1,100 shares or RON 121,000 (EUR ...

1,410 companies, sole traders in Romania file for insolvency in Q1 2021

Wednesday, April 28, 2021

The number of insolvent companies and sole traders in Romania increased by 6.82% in Q1 2021, y-o-y, to 1,410 insolvencies, according to data published on the website of the National Trade Register Office (ONRC).Most of the insolvent companies and sole traders were reported in Bucharest (297), up 112.14% from Q1 2020. Next in the insolvency rank are the counties of Cluj (130 insolvencies, up 94.03%), Bihor (108, down 20%), and Timis (75, down 3.85%).The least ...

Teraplast ups revenues by 28% in Q1

Wednesday, April 28, 2021

Romanian TeraPlast Group (TRP), which specializes in construction materials production, announced a 28% increase in turnover in the first quarter of this year, to RON 108 million (EUR 22.2 mln).   The EBITDA improved by 61% to RON 17.5 mln (EUR 3.57 mln), resulting in an EBITDA margin of 16.2%, up from 12.8% in the first quarter of 2020."To put this in perspective, this is compared to 2020, a year with record-breaking results for the group," stated Ioana Birta, the ...

Orange Romania's Q1 turnover up 2.5 pct to 264 ml euros

Wednesday, April 28, 2021

Mobile operator Orange Romania's Q1 turnover amounted to 264 million euros, up 2.5 percent compared to the same period of the previous year, the company said in a statement on Thursday.The constantly high need for connectivity among Orange customers in the first quarter of this year was the driver for a 30 percent increase in mobile data consumption in Q1 2021 compared to Q1 2020. The operator expanded its 4G connectivity coverage in Q1 to 56,000 people in another 143 rural ...

Dacia brand sales up 10.2 pct in Q1 2021

Wednesday, April 28, 2021

 French automaker and Dacia plant owner Renault reported today a 1.1 percent drop in Q1 revenues to 10 billion euros, despite a 1.1 percent increase in group global sales to 665,038 vehicles in the first three months of the year.The Renault brand sold 433,662 vehicles in the first quarter of 2021, up 1.3 percent from Q1 2020. In Europe, sales of electric and electrified versions of the Renault brand accounted for 23 percent of registrations. In regions outside Europe, ...

CRH Ciment Romania becomes ROMCIM

Wednesday, April 28, 2021

ROMCIM is announced as the new name for CRH’s cement, aggregates, and concrete business in Romania as of 5th May 2021.ROMCIM is an existing local brand, with more than 30 years history in the construction industry in Romania. The name change announced today is in keeping with CRH’s strategy to operate strong trusted local brands in each of its markets, supported by the capabilities and expertise of a leading global ...

GTS Telecom announces investments of 3 million euros for the development of data centers

Wednesday, April 21, 2021

GTS Telecom, one of the main IT&C service providers in Romania, will invest over 3 million euros in 2021 to consolidate its data centers and cloud platforms, and to diversify its portfolio with the latest technologies.   The investments announced by GTS Telecom, member of the Deutsche Telekom AG group, ...

PwC: Fewer but bigger M&A deals in Romania in Q1 2021

Wednesday, April 21, 2021

The number of deals on Romania's mergers and acquisitions (M&A) market contracted by 26% in the first quarter of this year compared to the same period in 2020, with only 42 transactions announced, compared to 53 in the same period last year.However, the value of the transactions increased to over EUR 600 million, according to a report released by PwC Romania's M&A department.   "The year 2021 began with the announcement of important transactions on the M&A ...

Optim PM recognised as best “SEE Project Management Company of the Year”

Wednesday, April 21, 2021

Optim Project Management has been awarded the best “SEE Project Management Company of the Year” ...

Alive Capital lists first corporate bonds at Bucharest Stock Exchange

Wednesday, April 21, 2021

Electricity and integrated services supplier for the energy market, Alive Capital, listed on Wednesday its first corporate bonds at the Bucharest Stock Exchange (BVB), on the Multilateral Trading System (SMT), under the symbol ALV23, according to a press release sent by the Stock Market.The debut of bonds at BVB was marked by the official opening of the trading session by Giacomo Billi (founder and chairman of Alive Capital), Mihaela Stoica (CEO of Intercapital Invest) and ...

Romcab posts robust revenues, hopes for early end of insolvency

Wednesday, April 21, 2021

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Cable producer Romcab (MCAB), under insolvency, announced its turnover soared by 88% year-on-year to EUR 173 million in 2020, and its losses halved compared to 2019.   "In a period marked by the global health crisis, Romcab managed to maintain its activity uninterrupted, the year 2020 marking a return of the company's turnover at a level comparable to that recorded in the period before the start of insolvency proceedings," said Zoltan Prosszer, ...

FintechOS raises USD60 million in Draper Esprit-led Series B funding round to fuel global expansion

Wednesday, April 21, 2021

FintechOS’ low-code approach to digital transformation has seen rapid adoption from financial institutions across Europe Investment will be used to cement its position in UK and Europe and fuel international expansion  FintechOS to add 120 in headcount and set-up new ...

Hategan Attorneys - Legal Partner for The First Contract Management Platform in Romania 

Wednesday, April 21, 2021

Hategan Attorneys, one of the largest law firms in the western part of Romania, is the legal partner for ContrActual (www.contractual.), the first online platform in Romania dedicated exclusively to the management of commercial contracts has been launched.   Created from a real need ...

Chimcomplex’s shares surge by 29% in one day

Wednesday, April 21, 2021

The shares of Romanian chemical group Chimcomplex (CHOB), controlled by local entrepreneur Stefan Vuza, jumped by 29% on Monday, April 19, after the company announced it completed the first steps for a secondary listing on the Warsaw Stock Exchange.   The company’s market capitalization thus reached over RON 1.1 bln (EUR 223 mln). The Chimcomplex shares are up 92% since the beginning of this year. The strong evolution was backed by positive financial results ...

Retailer Vivre raises EUR 7 mln with bond issue

Wednesday, April 21, 2021

Vivre Deco, one of the largest online retailers of furniture, decorations and lifestyle products in Central and Eastern Europe, closed in advance a private bond placement through which it raised EUR 7 million, 40% above the initial target.   The operation took place between April 8 and April 16, and most of the subscriptions were made online through the TradeVille trading platform.   The bonds, denominated in euro, have a maturity ...

Chipita expands Bucharest factory

Wednesday, April 21, 2021

Greek group Chipita, the producer of the 7Days, Finetti, and Chipicao brands, is preparing to expand by 60% the production area of its factory in Clinceni, Ilfov county - near Bucharest.The company will continue the work started since 2009, according to documents consulted ...

Six in ten companies operating in Romania expecting to bounce back to before-pandemic levels in 2021

Wednesday, April 14, 2021

Almost half of companies operating in Romania (46%) say they are not affected by crisis and are doing business as usual, and six out of ten entities (60%) believe that throughout 2021, they will recover to levels seen before the COVID-19 pandemic, according to findings in a Randstad Romania HR Trends 2021 report published on Tuesday.According to data centralised by the recruitment company Randstad Romania, 15% of the companies will increase this year their ...

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