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Govt. to take over sugar factory abandoned by French Tereos in Ludus
Wednesday, June 1, 2022
Romania's agriculture minister Adrian Chesnoiu announced on Thursday that the negotiation team for the takeover of the sugar factory in Ludus had been set up. The state will buy the factory in partnership with the farmers from the current owner, the French group Tereos, which wants to close it down. Minister Chesnoiu had a new official meeting with the management of Tereos Romania to introduce the negotiating team set up ...
Madeline-Dalila Alexander, interim director on Board of Directors of Agricover Holding, appointed by EBRD
Wednesday, June 1, 2022
Madeline-Dalila Alexander has been appointed interim director - a member of the Board of Directors of Agricover Holding of the European Bank for Reconstruction and Development (EBRD), the company said in a press release .Madeline-Dalila Alexander has over 30 years of experience as an auditor, of which 20 years as a partner in audit firms under Big 4 Accounting Firms. Alexander is accredited as a GAAP and IFRS expert in the United States as well as a GAAP, ...
Bosch to hire several hundred people in Romania, to expand some of its production capacity
Wednesday, June 1, 2022
The German Bosch group has over 8,000 employees in the country and will increase its workforce by at least 400 people, says the company, which will continue to expand its factories in Cluj and Blaj. Due to the “considerable uncertainties” caused by the global coronavirus pandemic and the war in Ukraine, the company has a “reserved forecast” in the country for its business this year. The company ...
Lear group takes over IT startup in northeastern Romania
Wednesday, June 1, 2022
Lear Corporation, an American company that produces car seats and electronic systems for the automotive industry, acquired the software company Thagora Technology - a startup founded by entrepreneur Mihai Mitrica in Iasi, the eastern part of Romania. Thagora Technology, which started operations at the end of 2020, reported a turnover of RON 4.4 mln (EUR 0.9 mln) and a net profit of RON 4 mln (EUR 0.8 mln) for the two ...
Electroarges swings to net loss in Q1
Wednesday, May 25, 2022
The household appliance manufacturer Electroarges [BSE:ELGS] said on Monday it booked a 184,341 lei ($39,600/37,200 euro) net loss over the first quarter of 2022, compared to a 1.65 million lei net profit in the same period last year. The company’s turnover fell by an annual 60% to 39.9 million lei during January-March, it said in a financial report filed to the Bucharest Stock ...
Celebrating 25 Years of Electronic Communications in Romania - CEO of S&T Romania Awarded for Outstanding Merits in ICT Industry
Wednesday, May 25, 2022
The International Telecommunications and Information Society Day was celebrated on May 17, 2022, at the Romanian Chamber of Commerce and Industry (CCIR), ...
Farmec brand relaunched on 500,000 euro investment
Wednesday, May 25, 2022
Romanian cosmetics manufacturer Farmec is investing 500,000 euros in relaunching its namesake brand in a bid to diversify its portfolio and release new products, a Tuesday release informs.The Farmec brand portfolio encompasses over 30 products, including 7 new ones, with formulas that meet all the basic needs of the skin, hair, hands and feet care, created with natural ingredients such as green tea, nettle, argan oil and aloe vera, but also vitamins and ...
Romania ranks first in Europe in terms of number of women in companies' management
Wednesday, May 25, 2022
Romania ranks first in Europe in terms of the number of women in the top management of companies, Prime minister Nicolae Ciuca said on Friday, who participated, in central-western Cluj-Napoca, at the launch conference of the initiative Women in Tech, under the aegis of the Innowave Summit."I've found that there's really gender equality. I have seen many ladies present, which means that we do not have to make many arguments about the relevance you have in all the ...
Simtel Team posts a turnover of RON 9.7 million in the first quarter of 2022
Wednesday, May 25, 2022
Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, posts a turnover of 9.7 million lei in Q1 2022, an 57% increase compared to the same period last year and a net profit of 0.29 million lei, an 137% appreciation compared to the loss of 0.77 million lei recorded in Q1 2021. The company targets operating revenues of over 100 million lei for this ...
Softbinator Technologies opens a new office in Silicon Valley, USA
Wednesday, May 25, 2022
Softbinator Technologies, a Romanian software development company specialized in the design, development, and launch of innovative products with local and international clients announces the lease of a permanent space in the US, in Silicon Valley, which will serve as the company’s US office. “The standard in technology comes from the US, specifically from Silicon Valley. The US market is the main ...
Silcotub doubles earnings in 2021
Wednesday, May 25, 2022
Romanian industrial pipe manufacturer Silcotub, part of the international group Tenaris controlled by the Italian Rocca family and the second-largest steel company in Romania (after Liberty Galati), reported a turnover of over RON 2.6 bln (EUR 533.3 mln) in 2021, 59% higher compared to 2020, according to the company’s filing to the Ministry of Finance. The company achieved a net profit of over RON 258.8 ...
ROCA Industry takes over door maker Eco Euro Doors for EUR 9.8 mln
Wednesday, May 25, 2022
ROCA Industry, part of the Romanian group ROCA Investments, has completed the acquisition of a 70% stake in Eco Euro Doors (EED), the largest Romanian manufacturer of doors for residential construction. The value of the transaction was EUR 9.8 ...
June Communications renews the PR partnership with Fortech Investments
Wednesday, May 25, 2022
Following the collaboration that started in the summer of 2021, June Communications and Fortech Investments signed for the extension of the PR partnership, having as a common objective sustaining the development and expansion of start-ups that have innovative B2B solutions, along with their creators. The PR agency will continue to communicate upon the projects carried out by the Cluj-based company, focused on capital investments, smart money, technology, and the ...
Grup Serban Holding invests EUR 3 million in increasing the storage, sorting and packaging capacity
Wednesday, May 25, 2022
Grup Serban Holding, a Romanian entrepreneurial company active in several fields in agriculture, announces the receiving of the approval for a project with European funds for Fabrica de Paine Serban SRL, part of Grup Serban Holding. The eligible value of the project is 3 million euros, of which 1.2 million euros are non-reimbursable funds. The amount raised is part of the projects approved in the first session of the ...
Nestlé Romania’s trends and plans for 2022
Wednesday, May 25, 2022
Nestlé Romania started 2022 with an increase of 12.9% in the first quarter. This increase is due to the sustainable choices and with a balanced nutritional profile made in the company’s portfolio. In the first three months of the year Nestlé made launches in most categories, being brought to the market innovative products under brands that entered for the first time in Romania – such as NESVITA® (oat snacks for breakfast) and ...
K2S – Key2Success analysis on recruitment for mid and top management în companies
Wednesday, May 25, 2022
In the next 3-6 months, the number of recruitments for middle and top management positions could increase in companies active in Romania, as an adaptation mechanism of the business environment to the recent macroeconomic and geopolitical evolutions, reveals an analysis by the HR solutions company K2S – Key2Success. Although according to the Trade Register data, 3,801 Romanian companies suspended their activity in ...
Promateris reports 22% stronger revenues in Q1
Wednesday, May 25, 2022
Promateris (BVB: PPL), a Romanian industrial group and leader in Central and Eastern Europe in the production of biodegradable and compostable packaging, reported consolidated revenues of RON 42.7 mln (EUR 8.6 mln) in the first three months of 2022, 22% more compared to the same period of the previous year. It also reported RON 4.6 mln (EUR 0.92 mln) EBITDA and RON 1.2 mln (EUR 0.24 mln) net ...
DIGI posts 16% stronger profit in Q1
Wednesday, May 25, 2022
BVB-listed telecom group Digi Communications (BVB: DIGI), with operations in Romania, Italy and Spain, announced in a note to investors that its financial and operational performances improved in the first quarter compared with the same period of 2021. The Group’s net profit rose by 16% YoY to EUR 27 mln in the quarter. “DIGI delivered another strong earnings performance in the first ...
PM Ciuca: Confidence shown by German investors in our business environment can encourage other foreign investors
Wednesday, May 18, 2022
Prime Minister Nicolae Ciuca said on Thursday that the confidence shown by German investors in the Romanian business environment could encourage other foreign investors, a statement made during a working visit to the "Star Assembly" Production Unit in Sebes (Alba County), an important component of the production network for the drivetrains of vehicles produced by the German concern Mercedes-Benz and an investment objective with many benefits locally and ...
Minister of Economy met with representatives of Leoni Wiring Systems
Wednesday, May 18, 2022
Authorities are conducting talks with companies and are taking important steps to facilitate relocations to Romania, either from the conflict zone in Ukraine or from other areas, such as Asia, informs a press release sent by the Ministry of Economy on Monday."My mandate, as Minister of Economy, aims to reindustrialize Romania and strengthen relations with economic partners. Foreign investors need concrete, transparent data so that Romania can be a top choice ...