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Four bidders compete for EUR 273 mln helicopter contract in Romania

Wednesday, July 8, 2020

Four bidders have submitted offers in the tender organized by the Romanian Government for purchasing up to 12 helicopters for the emergency service IGSU for an estimated price of EUR 273 million. One of the bidders is Airbus Helicopters, which operates a production facility in Brasov, central ...

Lactalis closes two factories in Romania, focuses on the others

Wednesday, July 8, 2020

French multinational dairy products corporation Lactalis announced that it would close two of its dairies in Romania, in Floreni and Vatra Dornei, as the group concentrates local activities. But the company assured that the collection of milk in the respective regions would continue, and the processing will be relocated to other factories the group owns in the country. The LaDorna brand and the Dorna Lactate company (that ...

AHK Romania: German companies in Romania expect deep sales dive, slow recovery

Wednesday, July 8, 2020

German companies in Romania expect a sharp contraction of their revenues and slower recovery than initially envisaged, according to a poll operated by the German Chamber of Commerce (AHK) and published on June 30. The political circumstances and the Government's ability to stimulate the economy are the main concerns revealed. Most companies polled expect a drop in turnover of between 10% and 25%, while over 24% of them believe ...

NEPI Rockcastle, AFI Europe, start arbitrage over failed EUR 300 mln deal

Wednesday, July 8, 2020

NEPI Rockcastle, the biggest mall owner in Romania, initiated the arbitrage procedure for getting the guarantee allegedly owed by Israeli developer AFI Europe's Romanian subsidiary following a EUR 300 mln office deal that ...

Questo platform gets EUR 300,000 for expansion

Wednesday, July 8, 2020

Questo, a platform for city exploration games developed by Romanians, has raised EUR 300,000 to continue its international expansion. The financing round was led by Sparking Capital with participation from Early Game Ventures. The funds should help Questo expand into more cities through local storytellers and tour operators. With Questo, travelers, and locals explore destinations by following clues and solving challenges to ...

Govt. to subsidise rents in the shopping malls closed during pandemic

Wednesday, July 8, 2020

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Retailers in Romania will be able to access funds worth RON 160 million (EUR 33 mln) to cover their rent costs for the period when their activity was affected due to the state of emergency and state of alert. An inter-ministry commission coordinated by the Economy Ministry met again on Tuesday, July 7, to finalize the regulation based on which the financial support will be ...

Te-Rox Prod close to getting financing from investment fund

Wednesday, July 8, 2020

Major Romanian child car seat producer Te-Rox Prod is in advanced talks with an investment fund to sell a minority stake, as the company wants to consolidate its business and diversify towards other markets, announced Doina Cepalis, CEO and shareholder of the company. "We are in very advanced negotiations with the fund, we have signed several agreements. We have identified the investor that suits us the most, we are very suitable for them as well, and ...

ONRC: Insolvencies down 37.94 pct over Jan - May

Wednesday, July 1, 2020

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Insolvencies of trading companies and self-employed persons over January - May 2020 were 37.94 percent down from the same period of the year before, at 1,636, shows data released on the website of the National Trade Register Office (ONRC).Bucharest tops the list with most insolvencies - 211, down 54.91 pct compared to January - May 2019, followed by Bihor County with 154 insolvencies (-27.01 pct), Timis with 107 (-18.94 pct), and Constanta with 102 (-30.61 pct) ...

ONRC: Number of companies that suspended activity drops by nearly 38 pct at five months

Wednesday, July 1, 2020

The number of companies that suspended their activity has dropped, in the first five months in 2020, by 38.07 pct over the similar period of 2019, the number being 4,110, according to data published by the National Office of the Trade Register (ONRC).In May 2020, 787 companies suspended their activity.Most companies that suspended their activity in the January - May 2020 period were from Bucharest, the figure standing at 406 (a 36.86 drop over the same ...

Number of suspended labour agreements stays above 140,000

Wednesday, July 1, 2020

A number of 141,664 individual labour agreements were suspended, on Friday, according to the figures centralized by the Labour Inspection and published by the Ministry of Labour and Social Protection.In the previous informative bulletin, sent by the Labour Ministry ten days before (June 16), the number of suspended agreements stood at 146,314.Most suspended contracts were in the Hotels and Restaurants sector (34,277 work contracts), followed by the ...

Givesco takes over 100% stake in Romanian milling and bakery group

Wednesday, July 1, 2020

Danish group Givesco took over the entire Romanian milling and bakery group Sam Mills, where it had held a 50% stake since ...

Govt. to extend EUR 100 mln to SMEs hit by crisis

Wednesday, July 1, 2020

Romania's Government will extend grants worth EUR 100 million to small and medium-sized firms hit by the coronavirus pandemic. The grants' value will be set according to each SME's turnover (no more than 15% of the turnover before the crisis), according to the draft ordinance on the economic recovery plan consulted ...

Arctic defies coronavirus crisis

Wednesday, July 1, 2020

Romanian appliance maker Arctic, controlled by Turkish group Arcelik, reported that its sales have continued to rise in almost all European markets despite the COVID-19 pandemic. The company mainly produces refrigerators and washing machines. However, company officials are reluctant to make estimates for this year, citing market uncertainties. The evolution of sales on other markets than the local one is ...

ScaleOut export accelerator starts with 10 Romanian companies willing to go global

Wednesday, July 1, 2020

60 companies signed up to learn about internationalisation in the ScaleOut program. The program developed by the Romanian Business Leaders Foundation (RBL) has selected the 10 companies that will enter ScaleOut, the first export accelerator in Romania, through which they will receive support in preparation for international expansion, tailor-made mentoring, access to specialists and investors, workshops and networking sessions. The first cohort, ...

Tarom net loss to widen to 315 mln lei (65 mln euro) in 2020

Wednesday, July 1, 2020

Romanian flag carrier Tarom expects its net loss to widen to 315 million lei ($73 million/65 million euro) in 2020 from 171.4 million lei a year earlier, according to data from the transport ministry. The fully state-owned company will end 2020 with 1,233 employees, down from 1,607 at the moment, the ministry said in a report published in the Official Gazette on Wednesday. Tarom is expected to post revenues of ...

AmRest opens fourth Burger King restaurant in Bucharest

Wednesday, July 1, 2020

Polish group AmRest, a leading European restaurant and foodservice platform, will open the fourth Burger King restaurant in ...

Dedeman's profit up nearly 30% in 2019

Wednesday, July 1, 2020

The revenues of do-it-yourself (DIY) chain Dedeman, the biggest company owned by private Romanian investors, increased by 14% to RON 8.2 billion (EUR 1.73 bln) in 2019, Ziarul ...

eMAG speeds up development in Hungary and opens first showroom in Budapest

Wednesday, July 1, 2020

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eMAG opens its first showroom outside Romania, in Hungary, and aims to score sales of 300 million euro by the end of 2020, according to a company release.The company wants to achieve sales of one billion euro in five years, which positions it as the largest Romanian company in Hungary and one of the most important ecommerce companies in Central and Eastern Europe, able to compete with global offline and online retailers."The sustained investments in ...

Digi Romania maintained its market leading position during the last three months

Wednesday, July 1, 2020

Confronted with the pandemic crisis during the last three months, Digi Communications operations in Romania, Spain and Hungary – three of the four countries where the Group operates – have focused on driving forward technological advances, delivering quality services to clients at the same levels as those before the emergency state, consolidated its market share and selling mix optimization. Digi Romania ...

Posta Romana seeks EUR 40 mln long-term loan

Wednesday, July 1, 2020

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Romania's state postal services operator Posta Romana (Romanian Post) "is preparing to borrow" some EUR 40 million for 10 to 15 years, according ...

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