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Deutsche Telekom still seeking buyer for its Romanian mobile telecom operations
Wednesday, May 4, 2022
Hellenic Telecommunications Organization (OTE, Greece) and its main shareholder Deutsche Telekom (Germany) resumed operations to identify a buyer for their mobile business in Romania. The dedicated mergers and acquisitions team submitted presentation documents addressing potential buyers in January. "OTE has resumed addressing potential buyers, and the documents started being sent to them during the ...
Fondul Proprietatea has Romanian Govt.'s support for 49% IPO at salt company Salrom
Wednesday, May 4, 2022
Romania's Government will support Fondul Proprietatea in its attempt to list the shares of the salt company Salrom on the Bucharest Stock Exchange (BVB) under an IPO likely to take place in the first half of next year, minister of economy Florin Spataru announced. Fondul Proprietatea holds 49% of Salrom. "In May next year, Salrom's shares will be listed. (…) Fondul Proprietatea wants to exit and sell its shares on ...
Druid raises USD 15 million for international expansion
Wednesday, May 4, 2022
Bucharest-based Druid, an end-to-end platform for building AI-driven conversational business applications, has raised USD 15 million in a Series A round. The funding will be used to fuel the company's international expansion, by actively hiring new talents, to support its accelerated growth across Europe and North America. Druid plans to open new offices in France and ...
5,155 companies dissolved in first two months of this year
Wednesday, May 4, 2022
The number of dissolved companies increased by 24.49% in the first two months of this year, to 5,155, compared to 4,141 in the same period in 2021, according to data centralized by the National Office of the Trade Register (ONRC).The most dissolutions were registered in Bucharest, respectively 934 companies (increasing by 18.98%), and in Constanta (261, +38.10%), Timis (241, +19.9%), Ilfov (223, +46.71%) and Cluj (216, +24.86%).On the other hand, ...
EMI takes over Belgian company Decran, an industrial steel door manufacturer
Wednesday, April 27, 2022
EMI, a national player in the field of complete solutions and services for industrial access, has recently announced the full takeover of Decran shares, a Belgian company specializing in the manufacture and installation of industrial steel doors. “This is the second M&A transaction made By EMI in Belgium, after taking over the majority package of shares of Access System since the beginning of ...
Symmetrica will invest 10 million euros to modernize Veresti factory, Suceava
Wednesday, April 27, 2022
Symmetrica, the manufacturer of pavement and borders, announced on Tuesday that it would invest 10 million euros to modernize Veresti factory, Suceava, the first production unit of the company, inaugurated in 1999. The upgrading works will influence the overall production capacity of the company. In fact, this production unit will serve the north-eastern area (Moldova) but Select products will be ...
Private investor group TechAngels has invested 2.4mln euro in first three months of 2022
Wednesday, April 27, 2022
The TechAngels Group has invested 2.4 million euro in the first quarter of 2022, triple the amount over the same period of last year, while the rate of "angel"-type investor increased by 10%, in the analyzed period.According to a release, TechAngels has met, during presentation sessions, 37 start-ups of which 30% presented for follow-on rounds.At the same time, approximately 25% of the teams are in discussions regarding financing, and ...
The Council of Competition analyses the trading through which Romcin intends to take over Simbeton
Wednesday, April 27, 2022
The Competition Council announced that they analyse the trading through which the concrete producer Romcim SA from the CRH Group intends to take over the Simbeton SRL company, producer of prefabricated concrete elements. The possible observations and points of view can be sent to the authority for competition in a period of tweny days. ‘ In accordance with the ...
Romanian startup Humans.ai expands in Asia with new listing on top tier crypto exchange Liquid
Wednesday, April 27, 2022
Humans.ai, the Romanian deep-tech startup introducing the first framework for ethical AI with blockchain technology, announces a new listing for its $HEART token on top tier Asian crypto exchange Liquid. The listing on the number one crypto exchange in Japan is the next step ...
Mogo Romania, a company within the international fintech Eleving Group, announces a new General Manager
Wednesday, April 27, 2022
Specialized in car financing and part of the international fintech Eleving Group, Mogo Romania announces the appointment of a new General Manager. With 15 years of experience in consumer and business financial services, Ionu? Badiu has joined the team of the financier starting March of this year and has as a principal objective the development of operations in the local market. With over 12,000 ...
TeraPlast Group posts 58 pct growth in Q1 turnover
Wednesday, April 27, 2022
TeraPlast Group posted a Q1 turnover of 170.5 million RON - by 58 percent higher - mainly due to the start of production in new investment capacities, the company said in a Tuesday release."The net profit was 6.8 million RON, less than in the same period last year, yet a good result given the economic conditions completely different from 2021. The decrease from the record-high profit of Q1 2021 was the effect of the relative narrowing of the margin in the ...
Liberty Galati unaffected by French authorities' probe into GFG Alliance
Wednesday, April 27, 2022
The French authorities' recent raid on the Paris offices of GFG Alliance and the GFG-owned Dunkirk aluminum smelter has no impact whatsoever on the activity of the Galati-based Liberty steel mill, a GFG spokesperson said."The action of the French authorities has no impact whatsoever on the activity of Liberty Galati, which recently reported very good production results, having anticipated and successfully settled potential supply problems caused by the situation ...
Orange Romania: financial results for the first quarter of 2022
Wednesday, April 27, 2022
The Orange Group announced the financial results for the first quarter of 2022, available on March 31. Between January and March, the Orange Romania Group achieved a consolidated turnover of 384 million euros. The market dynamics in Q1 2022 is reflected by the increase in equipment sales, despite the unfavorable global context caused by the lack of stocks, but also by the decrease in revenues from services, caused ...
EvoMAG expects 20% rise in decoration, DIY product sales in 2022
Wednesday, April 27, 2022
Romanian retailer EvoMAG expects a 20% increase in sales of home, decoration and do-it-yourself products this year as it doubles to 20,000 its product range in these categories, the company said. EvoMAG did not specify whether the projection refers to its sales volume or sales value, nor did it provide comparative figures. EvoMAG registered an ...
Lensa reported last year sales of 16 million euro,up by 50%
Wednesday, April 27, 2022
” Lensa, an optical store in Romania, ended 2021 with sales of EUR 16 million, up 50% compared to the previous year, reaching a cumulative turnover in the 8 years of existence of EUR 37,3 million. Following a total investment of about EUR 2 million, Lensa opened in 2021 eight new stores in Romania, equipped with optometric cabinets of its own and ended the year with a network of 15 showrooms nationwide,” the company announced. ...
Over 11,220 companies deregistered in first two months of 2022
Wednesday, April 27, 2022
The number of companies deregistered nationwide increased by more than 17% in the first two months of this year, compared to the same period last year, to 11,227, according to statistics from the National Trade Register Office (ONRC).Most write-offs were registered in Bucharest - 1,659 (10.38% more than in the same period in 2021).By areas of activity, the highest number of write-offs was recorded in wholesale and retail trade, repair of motor vehicles ...
More than 60% of eastern European companies believe business has returned to pre-pandemic levels
Wednesday, April 27, 2022
Internationally, more than 50% of survey respondents believe that the Covid-19 pandemic has managed to have a positive effect on business Over 90% of respondents in Eastern Europe estimate that they will face difficulties in terms of the workforce; Over 60% of them believe that a predominant risk will be the disruption of supply chains ...
Bosch Engineering Centre extending to include Bucharest City
Wednesday, April 20, 2022
The Bosch Engineering Centre is extending its development activities to include Bucharest City, where engineers will work on state-of-the-art projects to develop solutions in the areas of automated, electric and connected mobility, under a hybrid and flexible work model, the company announced in a statement on Monday."The Bosch Engineering Centre in Cluj has steadily increased its development activities in recent years. It owns various global projects and ...
Romarm estimates double income this year, of 287.4 million lei
Wednesday, April 20, 2022
The national company Romarm estimates total double income this year, of 287.4 million lei, for a profit worth 700,000 lei and prepared investments of 13.94 million lei. The Romanian government approved on Thursday the government decision regarding the income and expenses budget for 2022 of the National Company Romarm, under the authority of the ministry of ...
Competition Council has authorized the takeover of Hoffmann by the SFS International Group
Wednesday, April 20, 2022
The Competition Council authorized the transaction by which SFS International AG Group, Switzerland, took over Hoffmann SE, Germany, and its subsidiaries, the authority informed on Friday.In Romania, the SFS Group is present through Heco Schrauben SRL, which operates in the production of screws, and the Hoffmann Group is active through its subsidiary, Hoffmann Industrial Tools SRL, active only in the distribution of tools, and has no local ...