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Electrolux closes factory in Satu Mare

Wednesday, April 1, 2020

Swedish group Electrolux has temporarily closed its gas oven factory in Satu Mare, northwestern Romania, where it has 850 employees, due to lack of ...

The bonds issued by the software developer Qualitance enter trading at the BSE

Wednesday, April 1, 2020

The euro denominated corporate bonds issued by the software developer Qualitance OB will start trading on the Bucharest Stock Exchange – BVB Multilateral Trading System (MTS). The bonds were bought by 59 investors, out of which 58 are individuals and 1 legal entity, in a private placement carried out ...

COVID-19 slightly affects aluminium supply of Romania's Alro Group

Wednesday, April 1, 2020

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Romanian aluminium producer Alro Group [BSE:ALR] said on Friday that the coronavirus disease (COVID-19) crisis has slightly affected its aluminium supply. At present, several countries have temporarily closed their borders for individuals, causing certain slowdowns and temporary bottlenecks to outbound  supply from Romania and to imports of some materials from affected countries, Alro Group said in its 2019 financial statement filed with ...

Wetterbest opens EUR 9 mln factory în Baicoi, Prahova county

Wednesday, April 1, 2020

Wetterbest, the second-biggest Romanian metal roofing systems producer has re-located and expanded its production facility in Baicoi, Prahova county. The project has involved investments worth RON 44.5 million (over EUR 9 mln) and has created 42 new jobs. The factory will thus reach 350 employees. The construction work started in the second half of 2018 and has been carried out in two phases. The project was partially ...

Survey: Only 9% of Romania’s entrepreneurs find Govt.’s first aid package helpful

Wednesday, April 1, 2020

Only 9% of the respondents in a survey carried by the association of Romanian small and medium sized enterprises (CNIPMMR) have declared that the economic measures adopted by the Government help them greatly. Meanwhile, 34.4% of the entrepreneurs stated that the measures do not help at all, 30.5% stated that they help only to a small extent, while 26.2% said that they cannot evaluate the impact of these measures on their ...

Managers of SMEs expect 50pct reduction in activity or even closure

Wednesday, April 1, 2020

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Small and medium-sized enterprises (SMEs) will be the most affected by the coronavirus pandemic, and their managers estimated as the main risk reducing the activity by more than 50pct or even closing it, the National Institute of Statistics (INS) reports on Wednesday after a survey into the evolution of the economic activity."In order to measure the impact of SARS-Cov.2, the INS carried out an ad-hoc survey between March 17 and 19, 2020 regarding the estimation of ...

Chimcomplex launches the production of the biocide that underpins disinfectants

Wednesday, April 1, 2020

Chimcomplex has received from the Ministry of Health the production approval for 1.25% concentration sodium hypochlorite. The company has modified its industrial production lines during the last weeks, in order to prioritize the production of sodium hypochlorite, this being a necessary product for public health in the context of the Coronavirus pandemic. Starting tomorrow, hypochlorite will be launched into production on the Ramnicu Valcea and Onesti platforms in an effort to ...

Issues for stakeholders amidst the financial difficulties triggered by the coronavirus crisis

Wednesday, March 25, 2020

The financial impact of Coronavirus (Covid-19) on businesses which operate or are reliant upon suppliers or customers in affected areas has been widely reported. Whilst certain sectors including airlines, manufacturing, retail and tourism appear to be worst affected, others will undoubtedly be impacted if the coronavirus cannot be contained in the timeframe originally forecasted, reveals the analisys by Radu Ropot?, Counsel and coordinator of the ...

Most of outsourcing industry employees already work from home

Wednesday, March 25, 2020

About 98% of companies in Romania’s business service outsourcing industry allow their employees to work from home, in order to avoid the spread of the coronavirus pandemic, according to a survey conducted by the Business Service Leaders Association in Romania (ABSL). In 43% of the companies in the industry, between 90 and 100% of the employees work from home during this period. About 20% of companies said that around 70 - ...

280,000 companies in Romania face a high insolvency risk over COVID-19

Wednesday, March 25, 2020

The coronavirus pandemic puts at risk hundreds of thousands of companies from the private sector. So far, 37 percent of Romanian companies reduced their activity and 23 percent closed all operations due to COVID-19. Over 280,000 companies in Romania are currently in a situation of high risk of insolvency, reveals a study conducted by Termene.ro, a platform that offers current information real time about the financial and legal data of the Romanian ...

Half a million Romanians to work from home for at least two months

Wednesday, March 25, 2020

About 500,000 Romanian employees working in sectors such as IT, telecommunications, business service outsourcing, consulting or financial services will work mainly from home for a period of at least two months, according to an analysis published by software solutions provider Creasoft on Monday, March 23. This is a market Creasoft is targeting. Creasoft, which produces electronic time-sheet and access control, among others, says that the demand for ...

Aramis Baia Mare halt production amid Covid-19 restrictions

Wednesday, March 25, 2020

Furniture producer Aramis Baia Mare, Romania’s biggest locally-owned exporter, German car parts producer Dräxlmaier, which employs 15,000 at its local factories, and gearbox producer Star Assembly, the biggest car parts manufacturer in Romania by turnover, have all announced that they would suspend operations. They follow the two major car producers Dacia and Ford, which have already announced that they would stop production at least until ...

Dräxlmaie to suspend activity at the Romanian factories

Wednesday, March 25, 2020

German group Dräxlmaier, which employs about 15,000 in Romania, will suspend activity at the local factories in Satu Mare, Pitesti, Timi?soara, Hunedoara and Brasov, largely due to measures related to preventing the spread of Covid-19 and due to weak demand. Star Assembly, the local division of German group Daimler, the producer of Mercedes-Benz cars, stopped production of gearboxes at its local plant in Sebes last week. The measure was adopted as ...

Labor minister: Over 50,000 labor contracts suspended over the weekend in Romania

Wednesday, March 25, 2020

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The number of labor contracts suspended after the companies reduced activity amid the state of emergency declared on March 16 has increased to about 250,000, labor minister Violeta Alexandru said on Monday, March 23. She added that the Government was ready to take new measures depending on how this situation will evolve. The Government has committed to pay from the public budget the technical unemployment benefits for 75% of the ...

Romania among the most attractive markets for US and UK tech companies

Wednesday, March 25, 2020

Romania is among the 30 most favourable markets for US and UK tech firms, based on a wide range of factors, including the availability of skills, complexity of the regulatory landscape, quality of connectivity and infrastructure, GDP growth, and inward investment, business-review.eu reads. Romania has been included on a list of the world’s best markets for tech companies in both the United States of America and the United Kingdom. International ...

AQUA Carpatica pours EUR 20 mln to increase capacity due to high demand

Wednesday, March 25, 2020

Valvis Holding, the group that owns the mineral water brand AQUA Carpatica, has seen a 250-300% increase in sales in recent weeks, the group’s founder and president Jean Valvis, said. He believes the increase hasn’t been fully driven by the rush to build up stocks before worse times amid the coronavirus crisis, but also by increased brand awareness. "We are working at full capacity. We have anticipated this growth ...

Non-food retailers are closing stores in Romania amid Covid-19 restrictions

Wednesday, March 25, 2020

Many non-food retailers in Romania have decided to discontinue operations in their physical outlets and move online, where possible. Polish discount fashion and home decor retailer Pepco, Danish furniture and home decor retailer JYSK, German footwear retailer Deichmann, French sports retailer Decathlon, and French DIY retailer Leroy Merlin are among those who announced on March 23 that their physical stores will be closed in the following ...

Auchan gives its employees bonuses for staying at work

Wednesday, March 25, 2020

French retailer Auchan, one of the leading food retailers in the world, will pay bonuses to all its employees in stores, warehouses and home delivery divisions. Thus, in total, over 65,000 employees at Auchan stores in France will receive a EUR 1,000 bonus because they "have demonstrated exceptional mobilization" by continuing to go to work in the midst of coronavirus outbreaks, the company ...

FinMin Citu: we are ready to offer guarantees so that SMEs have access to working capital with zero interest

Wednesday, March 18, 2020

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The executive intends to offer the SMEs guarantees to have access to working capital with zero interest, worth maximum 10 million lei, the positive impact in economy being estimated at almost 70 billin lei, wrote on Sunday night on his Facebook page the minister of finances Florin Citu.He stated on last Saturday that the Romanian economy will need, if the latest estimates regarding economic growth in the EU are valid, a substantial package of financial resources, ...

Schaeffler keeps investing in Romania

Wednesday, March 18, 2020

Schaeffler Romania, a local subsidiary of the German group Schaeffler, has planned for the current year the expansion of its production and logistics capabilities, with an emphasis on increasing productivity and cost efficiency, both in the automotive and industrial sectors. The statement comes in the context of the demand for car parts is expected to ease amid global weaker general demand, including on the car market. Schaeffler also says it will ...

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