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Orange Romania revenues fall 2.8% y/y in Q3

Wednesday, November 6, 2019

Orange Romania, a unit of France Telecom's Internet and mobile arm Orange, said on Tuesday its revenues fell by 2.8% on the year in the third quarter to 279 million euro ($309.5 million), mainly due to a drop in demand for equipment. Orange Romania had 10.928 million customers at the end of September, up 0.3% on the year, Orange Romania said in an interim financial report. Mobile Internet traffic surged by 34% year-on-year in the third quarter of 2019, ...

Phoenix expands its pharma business in Romania by takeovers

Wednesday, November 6, 2019

Romania’s Competition Council approved on October 29 the acquisition of three smaller local drug store chains, Tinos Farm, Flora Farm and Proxi-Pharm, by Help Net Farma, one of the biggest network of pharmacies, owned by German group Phoenix. Help Net will thus add 33 more units to its network. The competition body found that the transactions do not raise significant obstacles to the effective competition on the Romanian market. The companies Tinos Farm and Flora Farm ...

TeraPlast sees record results on sector boom

Wednesday, November 6, 2019

The revenues of Romanian group TeraPlast, one of the biggest producers of construction materials on the local market, increased by 21.8% in the first three quarters of the year compared to the same period of 2018, to RON 719 million (EUR 150 mln), helped by the construction works volume expanding by roughly a third over the same period of time. The group’s net result improved even more, by 51.4% year-on-year, to RON 33.7 million (EUR 7.1 mln) resulting in a net profit margin of ...

Liberty Steel UK: We want to improve quality of products made at Galati steel plant

Wednesday, October 30, 2019

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Liberty Steel plans to improve the quality of products made at the eastern Galati steel plant to enter new markets, said Jon Bolton, CEO of Liberty Steeel UK, in an interview with AGERPRES.The group, which acquired the former Sidex Galati, announced on Tuesday that Liberty Steel plants will merge into a global group, setting carbon neutral operations by 2030. This will create the Liberty Steel Group division, which will have three parts: Liberty Primary Steel ...

Therme Bucharest has exceeded the threshold of 3.5 million customers

Wednesday, October 30, 2019

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The Therme Bucharest wellness and relaxation complex located near the capital city has exceeded the threshold of 3.5 million customers, and about 30% of them are foreigners, Andrada Seitan, Chief Communications Officer Therme Bucharest ...

CyBourn’s CEO, Ashwin Jayaram, stresses the importance of public private cooperation and education around cybersecurity issues

Wednesday, October 30, 2019

CyBourn’s CEO, Ashwin Jayaram, stresses the importance of public private cooperation and education of the individual on cybersecurity issues, while speaking at the 2019 Alianta Gala and Summit in Washington DC, at the Romanian Embassy, according to the press release sent by this Embassy. CyBourn’s CEO explained how the state of the market space and awareness impacts the growth and importance of AI and cybersecurity, during a panel entitled ...

TransPerfect enters Romanian market

Wednesday, October 30, 2019

US company TransPerfect, the world leader in translation and related software services for business, has entered the Romanian market with an R&D center in Bucharest, on Nicolae Iorga Street. The local office will act as a technology hub for GlobalLink’s translation management service, as well as a technology incubator for creative and innovative ideas for clients. “Opening an office in Bucharest has been one ...

Sales of Carrefour go up 8% in Romania in Jan-Sep

Wednesday, October 30, 2019

French retailer Carrefour, active on the Romanian market since 2001, reported a turnover in excess of EUR 1.6 billion in the country in the first nine months of this year, an 8% advance compared to the same period last ...

Ciech plans to build TPP in Romania

Wednesday, October 30, 2019

Polish chemicals producer Ciech said on Friday it plans to build a new thermal power plant (TPP) in Ramnicu Valcea in Romania in order to ensure steam deliveries to its local soda factory. The soda factory suspended production and is currently on stand-by after steam supplies from a local supplier, CET Govora, were discontinued, but the company continues its efforts to find a sustainable solution for industrial steam deliveries, Ciech said in ...

UiPath to lay off 400 employees as part of global reorganizing

Wednesday, October 30, 2019

Romanian tech unicorn UiPath, the biggest robotic processing automation (RPA) company in the world, officially announced it will lay off about 400 employees as part of a global process of “reorganizing its functions”. “This process comes after two years in which the company has grown at an extremely fast pace, and now it is time to evaluate the teams and internal investments. The management team has decided to reorganize business ...

ROCA takes 18% stake in RO chemical plant

Wednesday, October 30, 2019

The investment and management platform ROCA, launched by the CITR Group, took over an 18% stake in chemical producer Sinteza Oradea, one of the largest companies in Bihor county, which specializes in manufacturing organic chemicals. The stake is worth RON 3 million (EUR 638,000, at today’s share price on the Bucharest Stock Exchange. At the same time, BT Asset Management sold a 33.8% stake in the ...

Insolvencies drop over 27pct in first nine months of 2019

Wednesday, October 30, 2019

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The number of companies and individuals facing insolvency fell by 27.11 percent in the first nine months of 2019 compared with the same period of 2018, to 4,434, according to data posted on the website of the National Companies Register Office (ONRC).Most of them were in Bucharest, namely 766, down 34.36 percent from the same period of 2018. The ranking continues with the counties of Bihor, 358 insolvencies (-13.53 percent), Timis, 243 (-24.77 percent) and ...

Lagardere Travel Retail names local CEO for operations in Romania

Wednesday, October 30, 2019

French group Lagardere has named Romanian Marius Vacalau to take the helm of its local subsidiary Lagardere Travel Retail Romania starting November 1, 2019. He will replace Stefan Picard, who will take over as Executive Vice President Commercial Development & Transformation within Duty Free Global, also part of Lagardère group. Picard has been CEO of Lagardere Travel Retail Romania since 2010, ...

Bluehouse to sell EUR 20 mln office building in Bucharest

Wednesday, October 30, 2019

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Greek real estate investment fund Bluehouse Capital resumed its attempts to sell the Olympia Tower office building in the eastern part of central Bucharest ...

The Competition Council analyses the taking over of H&E Reinert, H.Kemper and PFC ProFood

Wednesday, October 23, 2019

The Competition Council announced on Monday that they analyse the trading through which Hans-Ewald Reinert and Wolfgang Kuhnl take over together the companies H&E Reinert Holding, H.Kemper and PFC Pro Food Company which activate in the domain of meat processing.  ‘In conformity with the provisions of the Competition law (no.21/1996) this operation is an economic concentration which surpasses the value threshold included in the law, being ...

Sika, close to taking over big Romanian building materials producer

Wednesday, October 23, 2019

Swiss mortars and adhesives producer Sika is negotiating the takeover of Romanian company AdePlast, one of the biggest producers of building materials on the local market, with a turnover of over EUR 100 million in 2018. The negotiations are in an advanced stage, according to sources on the construction market quoted ...

MedLife buys private hospital in Ploiesti

Wednesday, October 23, 2019

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MedLife, Romania’s largest private medical services provider, has announced the acquisition of the entire 100% controlling interest in Lotus, a private hospital based in Ploiesti, southern Romania. The hospital provides integrated service of outpatient, imaging, ...

Optima opens its second office in Iasi

Wednesday, October 23, 2019

Romanian outsourcing firm Optima has opened a new office in Iasi, which has a separate team and management than the one it already has in the city. “We recently signed a very important contract for us, with one of the telecom leaders on the local market, and we opened our second office in Iasi, which thus becomes a new growth engine for our business in Iasi and the whole company. In the two offices in Iasi we have over 200 people, 40 of whom we ...

Deloitte 2019 Central Europe Technology Fast 50 ranking dominated by Software companies

Wednesday, October 23, 2019

Software companies are dominating the Deloitte 2019 Central Europe Technology Fast 50 ranking, with 31 entries from eight countries in this year’s competition. The media and entertainment field is the second best represented in the ranking, with ten companies, while the hardware and the fintech sectors bring nine entrants together. This year, Lithuanian software company Voltas IT leads the charge in the main ranking with 5.7 percent growth in revenues between 2015 and ...

Continental continues expansion at Sibiu production

Wednesday, October 23, 2019

German automotive group Continental has almost completed the expansion of its site in Sibiu, central Romania, where the company has production and research & development facilities. The group will open in December a new production module and a new R&D building. The new production unit, Module 6, spans over 12,000 sqm and is made of two separate buildings. The first one has 2 floors and is dedicated to production, logistics, locker rooms and ...

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