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Alexandru Rugina is the new Chief Operating Officer at Mercedes-Benz Vans Romania

Wednesday, June 30, 2021

Mercedes-Benz Vans Romania announced that Alexandru Rugina (36 years old), currently Head of Customer Services Vans Mercedes-Benz Romania, becomes Chief Operating Officer, starting July 1, 2021. After three years at the helm of Mercedes-Benz Vans Romania, Batiste Pascalin (41 years old) will take over ...

Avison Young expands service delivery further across Europe,  establishing full-service operations in Austria

Wednesday, June 23, 2021

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* The Canadian real estate broker has been present on the Romanian market since 2017   Avison Young announces the expansion of its service delivery to clients across Europe with the addition of GVA Real Consult in Austria, which will be rebranded as Avison Young. The expansion within DACH builds on the recent growth of Avison Young across Central and Eastern ...

Chimcomplex loses lawsuit with Amerocap and has to pay Americans over two million dollars

Wednesday, June 23, 2021

The Bacau court, as first instance, decided in favour of the Amerocap investment fund in the lawsuit against Chimcomplex and forced the Oltchim owner to pay the Americans over two million dollars, according to the court portal.The decision was issued on May 26 and can be appealed within 30 days of the communication.Amerocap representatives ...

Accenture Business Futures 2021 Report Identifies the Signals to Guide Companies Navigating Change in the Era of Compressed Transformation

Wednesday, June 23, 2021

A new report from Accenture (NYSE: ACN) shows that while 88% of companies finally have a clear picture of the challenges they face today, only 6% are completely confident in their current abilities to foresee and respond to future disruption. Business Futures ...

JTI Romania's business at 1.3 billion euros, out of which 75% taxes

Wednesday, June 23, 2021

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As per the final financial reporting for 2020, the turnover registered by JTI last year for the two entities operating in Romania, JTI Trading and JTI Manufacturing, exceeds 6.3 billion RON (1.3 billion euros), over 16% increase compared to the previous year. 75% of the turnover, namely 4.8 billion RON, represents amounts transferred to the state: excise duties, VAT and other taxes, 13% increase compared to ...

Sanador opens EUR 6 mln medical clinic in central Bucharest

Wednesday, June 23, 2021

Romanian private healthcare provider Sanador opened a new clinic in central Bucharest upon EUR 6 mln investments and expects it to generate 10% of total revenues.   The new unit is located in the One Tower office building, in the mixed-use project developed by One United Properties in the Floreasca area.The total area is 1,500 square meters, and the clinic is located on the ground floor of the office ...

Porsche Engineering to open R&D Centre in Timisoara

Wednesday, June 23, 2021

Porsche will open a Research and Development Centre in Timisoara, western Romania, with 200 jobs to be created, the mayor of Timisoara, Dominic Fritz announced on Facebook.   “After Dräxlmaier had announced yesterday that our city will be the first in Romania where ...

ONRC: 1,711 newly set up foreign capital companies registered in first four months of 2021

Wednesday, June 16, 2021

 The number of newly set up foreign capital companies in Romania increased in the first four months of 2021 by 32.84 pct, from the same period of the year before, to 1,711 units, according to data centralized by the National Trade Register Office (ONRC).The 1,711 new companies had a paid up share capital of 20.326 million US dollars, nine times higher than that of the companies registered in January-April 2020, of 2.145 million dollars.By field, most of the ...

The European Union has a shortage of at least 500,000 IT professionals

Wednesday, June 16, 2021

In the context of a rising demand for software testing services and specialized personnel, Qualinest, the software testing consultancy company launches three course modules targeted to those who either are looking to start a career in the field or want to upskill. The three modules include (i) software testing fundamentals, (ii) test automation with Java fundamentals and (iii) API testing and API test automation.   The courses focus on gaining hands-on experience ...

Continental to close Nadab plant, transfer operations to Carei

Wednesday, June 16, 2021

German automotive parts supplier Continental will close its induction systems factory in N?dab, in Arad county, and transfer the activities to its heating/cooling rubber hoses unit in Carei, in ...

NESS invests more in Romania and seeks to hire

Wednesday, June 16, 2021

The IT company Ness Digital Engineering plans to invest EUR 1.2 mln in developing the activity in Romania, in Ia?i and Timi?oara, which will create about 250 new jobs.   "We are expanding our activity by making an initial investment consisting in the purchase of equipment and the creation of new jobs in Iasi and Timisoara. During 36 months, Ness will create 250 jobs - 150 in Iasi, 100 in Timisoara. As provisioned in the forecasts, this project contributes to the ...

Arctic Stream targets EUR 2.5-4 mln with BVB IPO

Wednesday, June 16, 2021

Arctic Stream, a provider of services and equipment in the market of communications technologies, data centers and software solutions, is running a private placement of shares since Thursday, June 10, 2021.   The shares will be later listed at Bucharest Stock Exchange (BVB). The company aims to raise from investors between RON 12.6 mln and RON 21 mln (EUR 2.5-4 ...

Competition Council looking into Wendel Group's tentative takeover of Propak Ambalaj Uretim ve Pazarlama A.S.

Wednesday, June 16, 2021

Romania's Competition Council is investigating a transaction through which the Wendel Group, through Constantia Flexibles International GmbH, intends to take over Propak Ambalaj Uretim ve Pazarlama A.S. of Turkey.According to a press statement released on Thursday, Wendel is an investment group that holds a portfolio of companies operating in various industries, such as flexible packaging manufacturing, certification and verification, paint manufacturing and distribution, ...

ClusterPower to build 36 mln euro data centre in Romania

Wednesday, June 16, 2021

ClusterPower, a cloud services provider founded and controlled by three Romanian entrepreneurs, said on Thursday that starting this month it will build a data centre near the southern city of Craiova, in which it plans to invest 172 million lei ($43 million/ 36 million euro).   The data centre is the first of five planned to be built in Mischii, Dolj county, on a 25,427 sq m of land owned by the company, ClusterPower said in a press release. The project will be ...

Shipyard Orsova gets EUR 9 mln orders from the Netherlands

Wednesday, June 16, 2021

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BVB listed Orsova Shipyard (SNO) in Romania announced that it concluded two contracts for the construction and delivery of two river vessels, worth a total of EUR 5.22 mln.   The clients are the Dutch companies Rensen-Driessen Shipbuilding and TEAMCO Shipyard. The delivery terms are July 31, 2022, respectively March 31, 2022, in Rotterdam.   Last week, the company announced the conclusion of two other contracts for the construction of two river-type ...

16% increase in revenues in the first 5 months of 2021 for Gopet Romania

Wednesday, June 16, 2021

Gopet Romania, the freight forwarding company with almost 20 years of activity on the Romanian market, ended 2020 with a turnover of 32.3 million euros. Although the markets are still unpredictable, the first 5 months brought an estimated 16% increase in revenues for Gopet Romania, compared to the same period in 2020, which demonstrates the company’s ability to adapt to the context created by the pandemic, as well as the returning of a strong demand for transportation services on ...

Endava Romania reports RON 764.1 million revenue in the fiscal year of 2020

Wednesday, June 16, 2021

Endava Romania, the British software company present on the local market, with seven delivery centers, reported a revenue of 764.1 million RON in the financial year that ended on 31 December 2020, a 29% growth compared to the previous year. The company also reported a net profit of 73,7 million RON, 19% up from the last year.   This growth resulted from continuously developing all the delivery centers in Bra?ov, Bucharest, Cluj-Napoca, Ia?i, Pite?ti, Târgu ...

MedLife buys 10% residual stake in Panduri Medical

Wednesday, June 16, 2021

The Romanian BVB-listed private medical service provider MedLife (M) bought the residual 10% stake of Panduri Medical Center.With this, it became the sole owner of the company after it purchased the 90% majority stake five years ago. Panduri Medical Center, active for 14 years on the medical market, includes two clinics and a central laboratory.   MedLife expanded to a large extent by takeovers, with 31 medical service providers and pharma businesses ...

KPMG Guide on Posting of Workers 2021

Wednesday, June 16, 2021

KPMG in Romania has released the sixth edition of its “Guide on Posting of Workers” which includes detailed information on the changes brought by the new Posting Directive in each member state.   Even though 2020 pulled the brake on international mobility as we knew it, it also brought new requirements in terms of international postings, as EU member states had to implement Directive 2018/957/EU into their domestic legislation. Romania ...

The turnover of the Farmexim group/Help Net has increased last year by 12% at 734.2 million euro

Wednesday, June 9, 2021

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The Farmexim group/Help Net part of Phoenix Group had last year a turnover of 734.2 million euro, up by 12% against the previous year.    ‘The Farmexim group/Help Net, part of Phoenix Group contributed positively to the good results of the German company, registering in 2020 a turnover of 734.2 million euro, which is an increase of 12% against the previous year. For the Farmexim/Help Net, 2020 was one of intense growth, both organically and ...

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