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Danish Rockwool Group’s operations in Romania, “moderately affected” by COVID-19 crisis

Wednesday, April 29, 2020

Danish Rockwool Group, a world leader in basaltic mineral wool production, does not plan to stop its activity in Romania amid the COVID-19 crisis. "We expect the evolution of the second quarter to be weaker, in line with the lower activity of our local partners," the group's representatives said, however. The company's activity will be resized in some parts of the factory, according to Florin Popescu, the business unit director of Rockwool ...

Competition Council authorized for  Alvogen take over by Al Sirona

Wednesday, April 22, 2020

The Competition Council authorized the transaction by which Al Sirona intends to take over Alvogen CEE Kft company. The operation does not have significant obstacles in effective competition in the Romanian market and there is no serious doubt about its compatibility with a normal competition environment. The decision will be published on the website of the national competition authority after eliminating confidential data,” says the competition authority in a press release, on ...

Danish Rockwool Group’s operations in Romania, “moderately affected”

Wednesday, April 22, 2020

Danish Rockwool Group, a world leader in basaltic mineral wool production, does not plan to stop its activity in Romania amid the COVID-19 crisis. "We expect the evolution of the second quarter to be weaker, in line with the lower activity of our local partners," the group's representatives said, however. The company's activity will be resized in some parts of the factory, according to Florin Popescu, the business unit director of Rockwool Balkans, ...

McKinsey Report: Quarter of Europe’s jobs at risk from coronavirus crisis

Wednesday, April 22, 2020

* Unemployment could almost double in the coming months, McKinsey predicts. More than a quarter of all jobs in Europe could be impacted by the economic fallout of the coronavirus pandemic, according to an analysis from McKinsey quoted by politico.eu. The consultancy estimated that up to 59 million jobs are at risk of things like reduced working hours, temporary furloughs or permanent job losses. Unemployment could almost double in the coming months ...

Online sales continue to grow for EU enterprises

Wednesday, April 22, 2020

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Enterprises in the European Union (EU) are increasingly relying ...

Economic agents will see the shutdown rate increases from 9, 8 pct in March 2020 to 13.8 pct in April 2020

Wednesday, April 22, 2020

The share of economic agents that will see their activity reduced by more than 25 pct goes up from 33.3 pct in March 2020 to 45 pct in April 2020, and the shutdown rate increases from 9, 8 pct in March 2020 to 13.8 pct in April 2020, according to a research conducted by the National Institute of Statistics (INS). One of the aspects revealed by the ad-hoc statistical research carried out to evaluate the impact of the COVID-19 epidemic on the volume of economic activity is the high ...

Despite COVID-19 crisis, labour market sees increased demand in certain areas

Wednesday, April 22, 2020

While many areas of the labour market have been dramatically affected by the recent developments of the Coronavirus pandemic, with retail and HORECA suffering the most, as Business Review recently reported in an exclusive analysis, other areas not only ...

Farmasi rents 2.500 Sqm of warehouse at CTP Industrial Park

Wednesday, April 22, 2020

Dunwell Industrial Real-Estate agency in Romania, has brokered the transaction in which Farmasi, the Turkish producer and distributor of cosmetics and sanitary and cleaning products is leasing 2,500 sqm in CTPark Bucharest at km 13 on A1 Highway. The newly rented space will support the fast evolution of Farmasi’s sales at a local level, by streamlining the distribution. „In April 2019 we entered the Romanian market and our clients’ perceptiveness and also the sales ...

Coface Barometer Q1 2020 : COVID-19: heading towards a sudden global surge in business insolvencies

Wednesday, April 15, 2020

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At first, the COVID-19 epidemic in China only affected a limited number of value chains – but it has since turned into a global pandemic. Its repercussions have created a double shock – supply and demand – that is affecting a large number of industries in all over the world. The uniqueness of this crisis makes comparisons with the previous ones useless, as they all had financial origins (e.g. global credit crisis of 2008-09, great depression of 1929). The question is no ...

Michelin resumes progressively production in the Zalau factory

Wednesday, April 15, 2020

The tyre producer Michelin resumes progressively production in the metallic cord factory in Zalau, thetyre factory in the same locality and that in Floresti being closed for the moment.The company stopped production in all three factories in Romania at the end of March, more exactly on 28th March for the cord factory. ‘Starting with 8th April, the production activity in Zalau Cord is resumed progressively.The sanitary measures were ...

Competition Council: Pharmaceutical companies allowed to cooperate so as to prevent disruptions in medicines supply

Wednesday, April 15, 2020

The Competition Council gets in line with the European Commission's current policy of relaxation of the competition rules for pharmaceutical companies, the Competition watchdog said in a Monday release.According to the cited source, the European Commission has published a Temporary Framework Communication allowing agreements and exchanges of information between pharmaceutical companies in order to prevent disruptions in the supply of medicines essential in ...

Wizz Air announced 19% workforce reduction

Wednesday, April 15, 2020

Wizz Air has announced in a press release on Tuesday that,  “despite its best efforts, the company is taking the difficult step to make 1,000 positions redundant, representing a 19% workforce reduction”. Additional employee furlough measures have also been and will be taken in the short term as necessitated by the travel restrictions due the COVID-19 pandemic. It is also announced today that for the whole year of F21, the remuneration ...

Deutsche Telekom wants to sell its operations in Romania

Wednesday, April 15, 2020

German telecom group Deutsche Telekom is actively exploring the option of selling its operations in Romania to entities other than Orange Romania and Digi (the leading candidates so far), sources familiar with the talks ...

Number of suspended businesses down 27 pct Jan - Feb 2020

Wednesday, April 15, 2020

The number of companies that suspended their activity in the first two months of 2020 decreased by 27.13 pct from the same time of 2019 to 2,216, shows data released by the National Companies Registry Office (ONRC).As many as 1,023 businesses suspended their activity this February.Most companies that put their business on hold in the first two months of 2020 were from Bucharest, specifically 183 (down 37.76 pct from the same period of the previous ...

Bittnet Groups raised RON 9 M from BVB Investors

Wednesday, April 15, 2020

Bittnet Group, a group of companies providing IT Training as well as IT&C integration solutions, announces it has successfully closed capital increase operation and has raised 9 174 711,74 lei from Bucharest Stock Exchange Investors. The capital raised by the company will be used for investments, as specified in the company’s budget for 2020, as well as working capital. The operation was carried out in two steps, over the course of March and ...

Sales of Arctic company reach EUR 525 mln in 2019

Wednesday, April 15, 2020

Romanian refrigerator and washing machine manufacturer Arctic, part of Turkish group Arcelik, increased its sales by 9% in 2019, to RON 2.52 billion (EUR 525 million), Ziarul ...

Dacia plant to progressively restart production as of April 21, activity back to normal beginning May 4

Wednesday, April 15, 2020

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Carmaker Groupe Renault Romania announced this week that production will be progressively resumed at the Mioveni-based Dacia plant starting from April 21, and that the return to normal activity is planned for May 4."In agreement with the social partners and out of respect for the protection and safety of the employees, all the sanitary protection measures in force in Romania have been implemented in order to progressively resume the manufacturing activity on the ...

DriveNets to double staff at its Romanian office

Wednesday, April 15, 2020

DriveNets, an Israeli software producer specialised in software for networks, will double the number of employees in Bucharest, to 100 people by the end of 2020, the company has announced. The Center of Excellence in Bucharest is developed by DriveNets and by its local partner Tellence Technologies. During this period, the company estimates that the need for large-scale low-cost network solutions is increasing, with the COVID-19 ...

Online retailer eMAG to hire 1,000

Wednesday, April 15, 2020

Romania’s biggest online retailer and marketplace operator, eMAG, plans to hire 1,000 people in response to the sharp increase in online sales determined by the social restrictions imposed to limit the spreading of the Covid-19 pandemic. “We plan to employ 1,000 people in the coming period in warehouses, traditional courier, fast courier. These are permanent jobs. We want to invest,” said eMAG CEO Iulian ...

Zentiva completes takeover of Romanian Labormed

Wednesday, April 15, 2020

Prague-based pharmaceutical group Zentiva, which entered the Romanian market in 2005 by taking over the largest local generic drug producer - Sicomed, announced that it completed the takeover of local pharmaceutical producer Labormed under a regional deal. Zentiva Group has completed the acquisition process for Alvogen’s operations in Central and Eastern Europe (CEE), announced last year. The transaction contributes to the group's continued ...

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