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As many as 534,278 female shareholders/business associates in Romanian companies as of late Nov. 2019

Wednesday, January 22, 2020

The number of female shareholders or business associates in Romanian companies was, at the end of November 2019, 534,278, or 37.48% of the total shareholders or associates.According to data with the National Trade Registry Office (ONRC), male shareholders or associations were 891,129, in the 982,976 operating companies in Romania.At the same time, there were over 1.425 million business associates/shareholders in Romania that were natural persons during ...

Ford, the second brand on Romanian car market

Wednesday, January 22, 2020

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The market share of Ford on the Romanian car market (including passenger cars and commercial vehicles) reached 8.58% in 2019, and the number of registrations reached 16,168 units, the company said in a statement released on Friday, January 17. The U.S. car producer, which operates a factory at Craiova, in southern Romania, was thus the second-largest player on the market (after local producer Dracia), the largest foreign brand, and the leader of the ...

Artesana to raise EUR 3 mln from the stock market for new dairy plant

Wednesday, January 22, 2020

The owners of Artesana, a dairy producer based in Tecuci (Galati county, eastern Romania), are planning to raise EUR 3 million from the Bucharest Stock Exchange for building a new factory by the end of this year. "We are very committed to making this new investment. We want to have the new factory set up by the end of 2020. The business has been growing, the outlook is very good and we thought it would be good to make another investment,” said ...

Sévan Kaloustian, the new Managing Director of Janssen Johnson & Johnson’s Pharma Companies in Romania

Wednesday, January 22, 2020

Sévan Kaloustian has taken the role of Managing Director of Janssen Johnson & Johnson’s Pharma Companies in Romania as of the end of last year. Sévan Kaloustian was previously Business Manager for Janssen Poland. During his ten-year experience within Janssen, Sévan Kaloustian played a key part in facilitating the patients’ access to the company’s portfolio of innovating medicines. He was also director of the ...

Globalworth gains full ownership of Romanian real estate developer Elgan Offices

Wednesday, January 22, 2020

 London-listed Globalworth Real Estate Investment said on Wednesday it has became the sole shareholder of Romanian real estate developer Elgan Offices, with which it has developed the Renault Bucharest Connected (RBC) building located in the western part of the Romanian capital. Globalworth bought a 50% stake in Elgan Offices from Elgan Group, boosting its shareholding to 100%, it said in a press release. Thus, ...

Competition authority to probe takeover of Sabon's local ops by Yves Rocher

Wednesday, January 22, 2020

Romania's competition authority said on Wednesday that it will look into the agreed takeover of the local operations of Israeli cosmetics products manufacturer Sabon by French personal care products company Laboratoires de Biologie Végétale Yves Rocher. "In order to determine whether the concentration is compatible with a normal competitive environment, the competition authority will consider the notified transaction under the ...

PROFI takes over Maya stores

Wednesday, January 15, 2020

The PROFI network continues its expansion with the latest acquisition of Pram Maya, a group of 18 stores in Prahova and Dambovita county. The transaction has already been approved by the Romanian Competition Council. “Take overs are an integral part of PROFI’s development strategy and we are happy that this transaction is the biggest of this kind in our history. Appreciated by the public, from the beginning of next year, we will bring the ...

PHOENIX Group acquires the Ecofarmacia pharmacy chain

Wednesday, January 15, 2020

PHOENIX Group continues to expand the Help Net network by purchasing the Ecofarmacia drugstores. The chain operates 32 pharmacies in Transylvania, which will take the number of Help Net pharmacies to 300 by the end of 2019. At the moment, the transaction is being reviewed by the Romanian Competition Council. The Ecofarmacia drugstores are all located in Transylvania, one of the most prosperous regions of Romania, enjoying a leading regional position, ...

BR ANALYSIS: Local startup ecosystem to remain in investment mode as it enters 2020

Wednesday, January 15, 2020

Some EUR 1 billion has been raised by startups in Central and Eastern Europe (CEE) in 2019, with the investment environment for entrepreneurs set to remain dynamic through to 2020. In Romania, funding activity will continue to grow next year, according to market players. Locally, the largest funding deals of more than EUR 1 million each were recorded by Elrond, TypingDNA, FintechOS and Happy Recruiter. Bucharest led in terms of both the total ...

Proinvest Pascani prepares EUR 30 mln bonds issue and IPO

Wednesday, January 15, 2020

Proinvest Pascani, a company specialized in steel processing, owned by Romanian entrepreneur Vasile Sandu, is preparing to issue bonds worth RON 141 million (EUR 30 mln) and list them on the Bucharest Stock Exchange to finance a EUR 100 mln investment program. Vasile Sandu ...

Number of suspended companies in Romania Jan.-Nov., 2019, decreases by about 23pct

Wednesday, January 15, 2020

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The number of companies that suspended their business in the first 11 months of 2019 decreased by 22.93pct from the same time of 2018, to 12,842, according to data released by the National Companies Registry Office (ONRC).In November 2019, 971 companies were suspended.Most companies that put their business on hold in the first 11 months of 2019 were from Bucharest, 1,261, still down 28.64pct from the same period of the previous year. The counties of ...

Polish CIECH is trying to keep alive Govora soda plant

Wednesday, January 15, 2020

CIECH Soda Romania, the Romanian subsidiary of Polich chemical group CIECH, has decided to take further measures to keep all its workers and managers at the Govora soda plant in Romania, hoping that the facility will soon resume production if steam supply is provided, the company said in a statement. "It is a serious commitment from us and we hope that all discussions on finding a steam source for our factory will materialize with real support. We call ...

Evgeny Nikolsky, the new JTI 's GM in Romania

Wednesday, January 15, 2020

Japan Tobacco International (JTI), one of the biggest tobacco producers in the world, has appointed Evgeny Nikolsky as the new General Manager of its local subsidiary - JTI Romania.  Nikolsky, who comes from Kazakhstan, replaces Mark Rock, who was sent to manage the group's business in Germany.  Evgeny Nikolsky joined the JTI group in 2001 and, in 2009, he became sales manager in Kazakhstan. In 2014, he moved to ...

Number of companies running on foreign capital drops 2.11pct in first 11 months of 2019

Wednesday, January 15, 2020

The number of newly established companies running on foreign capital dropped, in the first 11 months of 2019, by 2.11 per cent, compared to the similar period of the previous year, to 5,096 units, according to data centralized by the National Office of the Trade Register (ONRC).The 5,096 new companies had a registered capital totaling 19.492 million US dollars, down 58.2 per cent from January to November 2018.The largest number of companies running on ...

Bulgarian company Kolev & Kolev to enter Romanian market

Wednesday, January 15, 2020

Bulgarian footwear manufacturer Kolev & Kolev, specialised in child shoes, is preparing to enter the Romanian where it aims at capitalising the lack of a local strong brand despite the relatively large ...

Holde Agri Invest lures RON 10 M from BVB investors

Wednesday, January 15, 2020

Holde Agri Invest SA, a Romanian agricultural company operating farmland, has successfully closed a private placement offer for its shares, having raised 10 million lei from Bucharest Stock Exchange investors. The offer took place between December 16th and 23rd, 2019. The intermediary to the transaction was SSIF BRK Financial Group, while the private placement was carried out through the POFX trading system administered by the Bucharest Stock Exchange, intended for ...

Accenture acquires Symcom's cyber security division from Broadcom

Wednesday, January 15, 2020

Accenture has agreed to acquire Symantec’s Cyber Security Services business from Broadcom, Inc. Financial terms were not disclosed. The transaction is pending some approvals and is expected to be concluded in March this year. Accenture invested almost USD 1.2 billion worldwide during 2019 fiscal year within 33 acquisitions in order to gain abilities and critical capacities in strategic sectors.The new acquisition will make Accenture ...

Frames Barometer: Workforce shortage seen as top challenge to business environment in 2020

Wednesday, January 8, 2020

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The workforce crisis, the rise of inflation, the prospects for the national currency's depreciation and the expansion of the financial gridlock are seen as the major challenges to the business environment in 2020, found the 9th "Barometer on the state of the economy" conducted by consulting company Frames and released on Friday.Whereas in the previous opinion barometer, issued in July 2019, the inflation and the depreciation of the leu were the highest fears of ...

Insolvencies, down by 24.44pct in first 11 months

Wednesday, January 8, 2020

The number of companies and authorized individuals (PFAs) facing insolvency decreased by 24.44 pct in the first 11 months of 2019, compared to the similar period of the previous year, to 5,830 insolvencies, according to data posted on the website of the National Trade Register Office (ONRC).Most companies and PFAs facing insolvency were registered in Bucharest, respectively 1,059, on the decrease by 30.05 pct compared to the same period of 2018. The ranking ...

ONRC : Number of deregistered companies up 30pct in Jan-Nov. 2019

Wednesday, January 8, 2020

Number of deregistered companies increased by 30.01 percent in the first eleven months of 2019 compared to the similar period of 2018, reaching 95,019, according to the statistics of the National Trade Register Office (ONRC).The largest number of deregistrations was recorded in Bucharest - 11,544 companies (1.66 percent more against with January-November 2018) and in the following counties: Iasi - 4,780 (plus 66.26 percent), Cluj - 3,685 (plus 6.26 percent) and ...

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