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PM Orban supports building of new industrial park in Ramnicu Valcea

Wednesday, September 16, 2020

On Saturday, Prime Minister Ludovic Orban expressed his support for the project to establish an industrial park in Ramnicu Valcea.He said the idea of an industrial park in the city "could be a way to attract serious investors, boost the economy, give everyone who is looking for a job a chance.""The project to build an industrial park is (...) extremely important. Usually, in order to attract investments in localities, this facility ...

Gov't : Under SME Leasing, companies will have additional option to access financing

Wednesday, September 16, 2020

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The Prime Minister's Chancellery head, Ionel Danca, announced that the methodological norms for SME Invest and SME Leasing have been adopted in Thursday's Government meeting, and within the second programme, companies will have an additional option to access financing for the purchase of machinery or technological equipment."In the field of economy, [ed.n. - there are] two very important Government decisions for the implementation of the ...

DP World Constanta freezes new hires due to COVID-19

Wednesday, September 16, 2020

DP World Constanta, the Romanian subsidiary of Dubai's DP World, said on Friday that it is freezing new hires as part of a process of streamlining operations due to lower cargo volumes caused by the COVID-19 pandemic.   In response to the decrease in cargo volume, DP World Constanta laid off three crane operators, has withdrawn 11 new job postings and is  ...

New law firm in Romania: Domokos Partners

Wednesday, September 16, 2020

Emeric Domokos, Andreea Neagu, Artur Tintari and Oana Sarbu are partners in a strong, new law firm in Romania: Domokos Partners. Domokos Partners enters the business law market as a full-service law firm, with services covering all fields of law, with the purpose of offering innovative legal services of the highest quality, combining the local know-how of its partners with the international experience gained over the ...

DIY chain Hornbach to open new store in Romania at end-Sept

Wednesday, September 16, 2020

German do-it-yourself (DIY) chain Hornbach said on Wednesday that it will open a store in Romania - in the northwestern city of Oradea, at the end of September. The 23,000 sq m store will be located on a 4.5 ha land plot and will have 500 parking spots, Hornbach said in a press ...

Coface launches Diagnostic, an innovative product that helps companies correctly assess the financial situation of business partners

Wednesday, September 16, 2020

In the current situation marked by numerous economic challenges, Coface Romania supports companies by launching Diagnostic, a unique product on the business information market in Romania. The new product develops a risk profile of a subject company in a widely addressable language: Unique on the business information market: the only product in Romania that evaluates the company's financial ...

Astra Arad to deliver 100 new trams to Bucharest

Wednesday, September 16, 2020

Astra Vagoane Calatori, the wagon factory based in Arad, western Romania, will deliver 100 new trams to the Bucharest public transportation authority after the Bucharest Court of Appeal had rejected the appeal filed by the Bucharest City Hall in this respect, according ...

Altex buys local IT products retailer with EUR 2 M

Wednesday, September 16, 2020

Altex Group has announced the acquisition of Despec local company, which is one of the largest retailers of IT&C products in Romania. The transaction was worth over EUR 2 million. Following the deal, Altex is taking over 79% of the shares owned in Despec Romania. The transaction has received the Competition Council’s consent since March this year.  Altex will thus diversify its portfolio of ...

ONRC: the number of wound up companies dropped by almost 26% in the first seven months of 2020

Wednesday, September 9, 2020

The number of wound up companies dropped by 25.93% in the first seven months of 2020, as compared to the same period of last year, at 14,720 against 19,872 companies in January –July 2019, according to the data centralized by the National Office for Trade Registrar (ONRC).The most companies which wound up in Bucuresti, namely 2,707 companies ( dropping by 21.54% against the first seven months of 2019) and in Timis county (792 – 20.72%), Constanta ...

The number of companies which suspended their activity dropped with almost 30% in the first seven months

Wednesday, September 9, 2020

The number of companies which suspended their activity dropped in the first seven months of 2020 by 29.8% against the similar period of 2019, getting to 6,177 according to the data published by the National Office for Trade Registrar (ONRC). Most companies which suspended their activity between January – July 2020 were from Bucuresti 641 respectively ( dropping by 25.64% against the same period of 2019), the capital city ...

ONRC : Registration of natural and legal persons dropped by 31.49% in the first seven months of 2020

Wednesday, September 9, 2020

The number of registrations of natural and legal persons dropped in the first seven months of the 2020 by 31.497% as compared to the similar period of 2019 at 60,634, 42,001 SRL according to the centralized data of ONRC.Most registrations were in Bucuresti, 9,810 (minus 7.45% as compared to January –July 2019) and Cluj (3,116 ( minus 23.44%), Ilfov – 2878 (minus 5.11%) and Timis  2644 (minus 29.79%).At the other end, the lowest number ...

Daimler had increased the production of gearboxes in its Sebes factory

Wednesday, September 9, 2020

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Daimler German Group has announced it had increased the production of gearboxes in its Sebes factory, which prompted a new shift that created 145 new more jobs. The increase of the eight-speed dual-clutch transmission capacity was due to the high demand on the market.   Both Dacia and Ford have increased their engine and car production this ...

Morphosis Capital buys majority stake in Medima Health

Wednesday, September 9, 2020

The private equity fund Morphosis Capital said on Tuesday that it has acquired a majority stake in Bucharest-based medical clinic chain Medima Health for an undisclosed price.The capital infusion will fuel the expansion of Medima Health's clinics in Romania as well as the development of teleradiology services, Morphosis Capital said in a press release without disclosing the size of the minority stake. Due to the ...

TeraPlast Group envisaging over 20 ml euro worth of investments

Wednesday, September 9, 2020

Building materials manufacturer TeraPlast Group envisages over 20 million euro worth of investments and plans to apply for state aid under the State Aid Scheme for stimulating investments with a major impact on the economy, the company said in a statement.The company contributes about 52 percent of the total amount of investments. "Romania needs tools to reduce its dependence on imports. It is a pity to continue to import products we can manufacture in ...

Oxygen selected by Fashion House Group for PR and communication services in Romania

Wednesday, September 9, 2020

Starting with September 2020, Fashion House Group named Oxygen as its PR and communication agency for Romania, in supporting its developing plans locally. The agency was chosen as winner following a complex selection process. The Oxygen team, under Adina ...

Romaero and PZL Mielec to strengthen Romania’s aerospace industry

Wednesday, September 9, 2020

A new Maintenance Repair and Overhaul (MRO) facility for civil and military Black Hawk helicopters is set to be created in Romania, further contributing to the country’s aerospace industry and providing an economic boost to the region under a Memorandum of Understanding (MoU) signed in Bucharest . Building on an agreement signed between Sikorsky, a Lockheed Martin company, and Romaero in March 2018, the new MoU retains the original’s ...

The first Haier’s refrigeration factory in the European Union to be built in Prahova county

Wednesday, September 9, 2020

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Deloitte Romania and Reff Associates, the law firm representing Deloitte Legal global network in Romania, provided assistance to Haier Tech, a Romanian company belonging to the Haier Group, in the project for building in Prahova county the first Haier’s refrigeration factory in the European Union. After assisting Haier Tech in obtaining the financing agreement for state aid in December 2019, Deloitte’s Management Consulting practice is now advising Haier ...

CMS advised AFI Europe on EUR 300m office acquisition in Romania

Wednesday, September 9, 2020

International law firm CMS has advised AFI Europe on its approximate EUR 300m share acquisition of six companies owning four Class A office projects in Romania from NEPI Rockcastle, the ...

Eventmix.live launched in Romania

Wednesday, September 9, 2020

Amid the COVID-19 pandemic, serial entrepreneurs Sergiu Biris and Andrei Dunca launch Eventmix.live, a platform through which event organizers can easily organize on their own website, online conferences, workshops, webinars, concerts or courses. Eventmix.live is aimed at all those who want to ...

Florin Frunza appointed CEO of MET Romania

Wednesday, September 9, 2020

MET Romania Energy SA announces that Petre Stroe has decided to retire from the CEO role and will be appointed as non-executive Chairman of the Board of Directors, while Florin Frunza is appointed as the new CEO of the Romanian subsidiary of the Swiss-based energy company MET Group. As of 2 September 2020, Florin Frunza is appointed as CEO of MET Romania and will take over the tasks from Petre Stroe to lead the Romanian operations of MET ...

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