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More than 40,000 firms were struck off the register nationwide in the first five months of 2024
Wednesday, July 17, 2024
A total of 40,026 firms were deregistered nationwide in the first five months of 2024, 37.88% more than in the same period in 2023, according to statistics from the National Trade Register Office (ONRC). The most cancellations were recorded in Bucharest, 6,056 (up 33.69% compared to January-May 2023) and in Cluj (1,999, +41.67%), Dâmbovita (1,680, +98.82%), Timis (1,588, +21.41%) and Constanta (1,502, +13.19%) ...
PepsiCo Romania inaugurates automated warehouse at Popesti-Leordeni Factory
Wednesday, July 17, 2024
PepsiCo, a global leader in the food and beverage industry, today announced the opening of an automated warehouse at its snacks factory in Popesti-Leordeni. This milestone marks the completion of a strategic investment project valued at over $100 million. This significant investment, first announced in 2022, included the addition of three new production lines at the snacks factory and the construction of the automated warehouse. The factory now has ...
One United Properties 2023 Sustainability Report: 14 Construction Sites, 900,000 sqm under development, and over 21,000 jobs created
Wednesday, July 17, 2024
One United Properties, the leading green developer and investor in residential, mixed-use, and office real estate in Romania, publishes its fourth voluntary Sustainability Report for 2023. The report highlights the Company's progress in key sustainability areas and covers vast environmental, social, and governance aspects. "As our business grows, so does the number of developments that transform the face of ...
FSA Approves Simtel Team Shares Transfer To Bucharest Main Market
Wednesday, July 17, 2024
Simtel Team, a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and national leader in renewable energy, announces that the Financial Supervisory Authority (FSA) has approved the prospectus for the admission to trading of SMTL shares on the Main Market of the Bucharest Stock Exchange. “The transfer of SMTL shares to the Main Market of the Bucharest Stock Exchange represents an important ...
EY Romania:Romanian mergers and acquisitions down 6pct in H1
Wednesday, July 10, 2024
The Romanian mergers and acquisitions (M&A) market recorded 124 transactions in the first half (H1) of 2024, with a total estimated value of USD 2.3 billion, down 6% in volume compared to the 132 transactions, estimated at USD 3.7 billion, recorded in the similar period of 2023, according to an analysis by EY Romania sent on Friday.However, the specialists say, the value of the M&A market remained largely stable, if the acquisition of Enel Group's Romanian ...
Cognizant Romania hires over 100 IT specialists
Wednesday, July 10, 2024
Cognizant Romania IT company is recruiting more than 100 IT experts, in addition to the over 100 employees hired since the beginning of 2024. The open positions, Mid-Senior level, are available throughout Romania in a hybrid work model, for specialists in Java, FullStack Web, .NET, AI & Analytics, Data, DevOps and QA Automation. Also, Cognizant Romania is launching a new “edu-tech” concept in the Studio at Destiny Park Bucharest, ...
BMW opens IT solutions center in Cluj
Wednesday, July 10, 2024
BMW Group is expanding its global network of IT and software centers by opening a new location in Cluj-Napoca, in partnership with NTT DATA. The joint venture will double its workforce to 250 experts by the end of the year. In the long term, the goal is to reach over a thousand employees. “BMW TechWorks Romania joins a global network of IT centers that already includes locations in Germany, South ...
Dissolved companies up almost 16% in first five months
Wednesday, July 10, 2024
The number of dissolved companies increased almost 16% in the first five months of this year, up to 19,229, compared to 16,608 in the same period last year, according to data centralized by the National Office of the Trade Register (ONRC).Most dissolutions were recorded in Bucharest, with 4,038 firms (up 14.59% compared to January-May 2023) and in Ilfov (1,082, plus 48.22%), Cluj (1,017, plus 22.97%), Constanta (998, plus 28.77%), Timisoara (867, minus 2.36%) and Iasi (744, ...
Promateris gets EUR 2.291 million in Norwegian grants to make biodegradable packaging
Wednesday, July 10, 2024
In four years, Romanian company Promateris got Norwegian grants worth EUR 2.291 million, which allowed the development of production capacity and the adoption of sustainable practices."We had the innovative idea of producing biodegradable packaging, seeing an important opportunity in the sustainable products market. We set out to reinvent ourselves and become pioneers in this field," according to Promateris General Manager Tudor Georgescu.Thus, the company began ...
Nor Real Estate secures 21 million euro loan from OTP Bank Romania
Wednesday, July 10, 2024
OTP Bank Romania has concluded a 21 million euro financing agreement with Nor Real Estate, part of Atenor, for the development and administration of @Expo project phase 1 (B1/B2), a top office building located in the Expozi?iei area of Bucharest. The @Expo project, spanning a leasable area of 48,688 sq m, offers high-quality office spaces designed for companies seeking modern and sustainable solutions. This innovative real estate project brings a ...
Omnia Capital invests in Cargo Buddy
Wednesday, July 10, 2024
Private equity investment firm Omnia Capital acquired 44.67% of Cargo Buddy, a digital shipping house launched in 2021. Cargo Buddy is the first digital shipping house in Eastern Europe, serving both businesses and individuals, while partially complementing courier services. bpv GRIGORESCU STEFANICA advised the private equity investment firm Omnia Capital on this ...
Number of dissolved firms up 21.45% in first four months of 2024
Wednesday, July 3, 2024
The number of dissolved companies has increased by 21.45% in the first four months of this year, up to 16,153 against 13,300 in the similar period of last year, according to the data centralized by the National Office of the Trade Register (ONRC).Most dissolutions were recorded in Bucharest, namely 3,395 companies (increasing number by 21.21% against January –April 2023) and in Ilfov (913, plus 59.89%), Cluj (840, plus 30,03%), Constanta (832, plus ...
SD Worx People Solutions NV takes over Romanian Software SRL, as authorized by Competition Council
Wednesday, July 3, 2024
The transaction by which SD Worx People Solutions NV intends to take over Romanian Software SRL was authorized by the Competition Council, according to a press release of the institution, sent on Friday."Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts regarding its compatibility ...
Almost 59,000 natural, legal persons doing business registered over Jan - May 2024
Wednesday, July 3, 2024
The number of new registrations of individuals and legal entities doing business in Romania was 10.89 percent down over January - May 2024 from the same period of the previous year, to 58,876, of which 43,251 (73.46 percent) were limited liabilities, and 13,229 (22.47 percent) were self-employed, shows data centralized by the National Trade Register Office (ONRC).Most registrations were in Bucharest - 13,532 (up 2.98 percent from the year-ago period), ...
Infinity Cloud Technologies is opening its business in Romania, in Paris Office Building, Sema Parc
Wednesday, July 3, 2024
The local real estate developer & investor River Development announces the lease of a 1,200 s qm space to the worldwide player in the data center industry – Infinity Cloud Technologies, on the ground floor of the Paris Office Building, in Sema Parc. The transaction was brokered by iO Partners. The object of the signed contract is the rental of a compartmentalized space with an ...
MedLife takes over Antares Clinic
Wednesday, July 3, 2024
MedLife announced the signing of the acquisition of the entire package of the Antares Clinic group, one of the most important providers of private medical services in Moldova. Antares Clinic has been active in the private medical services market since 2006 and offers patients a wide range of investigations, from multidisciplinary consultations for more than 25 medical specialties and ...
Almost 3,100 companies, authorised individuals enter insolvency five months into 2024
Wednesday, July 3, 2024
The number of commercial companies and authorized individuals (PFA) entered insolvency in the first five months of this year was 3,091, up by 10.2% compared to the similar period in 2023, when 2,805 insolvencies were registered, according to the data published on the website of the National Trade Register Office (ONRC).The most companies and PFA that entered insolvency, between January 1 and May 31, 2024, were registered in Bucharest, respectively 574, a ...
SMARTEMP announces solid financial results for 2023
Wednesday, July 3, 2024
SMARTEMP, a company providing temporary staffing services to its clients, announces today its financial results for the year 2023, marked by sustained revenue growth. In 2023, SMARTEMP recorded consolidated revenues (including the financial results of BIA Human Capital Solutions) of 164.5 million lei, an increase of 10% compared to the previous year. This growth was primarily driven by the increasing demand from companies ...
Primark announces the opening date of its third store in Romania
Wednesday, July 3, 2024
Primark, the international fashion retailer, has today announced the opening date of its third store in Romania. It will be the first Primark store in the western part of the country, located in Iulius Town Timisoara mixed-use project. Primark Timisoara will open to customers at 10.00am on Wednesday 7th August, during the peak of summer and just ahead of the busy autumn back to school season. This opening comes ...
Misavan opens new factory in Miroslava, Iasi, partnering with Quimxel
Wednesday, July 3, 2024
Misavan, a Romanian professional cleaning products company, has expanded in partnership with the Spanish company Quimicas Quimxel SL, inaugurating a new factory following a 10 million euro investment equally supported by both companies. The factory will produce high-quality professional detergents and cosmetics, compliant with current regulations on biodegradability, sustainability, and commitment to a ...