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DS Smith plc completes EUR 208 mln acquisition of EcoPack and EcoPaper Romania

Wednesday, March 14, 2018

DS Smith plc has announced the completion of its EUR 208 million acquisition of EcoPack and EcoPaper, Romania, Business Review reports. The combined business is one of the most important integrated packaging and paper group in Romania. The acquisition supports the company’s existing operations in Eastern Europe. Miles Roberts, Group chief executive DS Smith plc, said: “We are looking forward to working with our new ...

DPD Romania launches fast delivery service to Bulgaria, Hungary, Greece

Wednesday, March 14, 2018

Courier services provider DPD Romania said on Wednesday it has launched a fast delivery service to Bulgaria, Hungary and Greece, seenews.com informs.Through 'DPD Express Regional', envelopes and door to door parcels can be delivered anywhere in Bulgaria, Hungary and Greece, the company said in a press release. "The increasing number of customers who choose to reach out to partners in these countries has led us to offer them a new fast ...

Spotify Launches in Romania, Israel, South Africa Ahead of IPO

Wednesday, March 14, 2018

Spotify has expanded its global footprint, just three weeks before it debuts on the New York Stock Exchange, billboard.com informs. The music streaming leader announced on Tuesday it has opened up shop in Israel, Romania, South Africa and Vietnam, bringing its territory count to 65 markets worldwide. Subscription prices in the new territories vary, though music fans won't be paying as much as the global average of $10/€10 per month. In Israel, the ...

Elis Pavaje forecasts turnover increase by 17 pct in 2018

Wednesday, March 14, 2018

Elis Pavaje closed 2017 with a slight increase in turnover and forecast an increase by 17 pct in 2018, betting on the possibility of  a quick response to the market’s demands, as a result of the opening of a new production capacity in North of Moldova, business-review.eu informs.  On a constructions market in decrease, Elis Pavaje succeeded to slightly exceed the sales from 2016 and ...

Lidl invests EUR 100 million in Romania

Wednesday, March 14, 2018

German discount food retailer Lidl has increased the paid-up share capital of its Romanian subsidiary with EUR 100 million, preparing to launch the first local digital hub and the second largest in Europe, according to Profit.ro quoted by business-review.eu. After the capital inflow,  the total share capital of Lidl Romania rose to almost RON 1 billion (EUR 215 million). The capital increase has been completed and ...

Forbes: The richest Romanian, Ion Tiriac, ranks 1,867 worldwide

Wednesday, March 7, 2018

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Businessman Ion Tiriac is again the only Romanian included in the 2018 edition of Forbes’ annual billionaires list, with a fortune of USD 1.2 billion, which puts him to no. 1,867 worldwide, romaniajournal.ro reads. Compared to last year, the former tennis player had a fortune of USD 1.1 billion, ranking 1,795 worldwide in the Forbes top. At the top of the list for the first time is Amazon founder and CEO Jeff Bezos. ...

ONRC: 82,295 companies removed from Trade Register in 2017, less by 24.58pct than in 2016

Wednesday, March 7, 2018

The number of companies that were removed from the registrar dropped by 24.58 per cent down to 82,295 in 2017 compared with 109,113 in the previous year, according to statistics recorded by the National Trade Register Office (ONRC).Most removals were recorded in the Bucharest Municipality - 13,475 companies (by 33.81 less compared with 2016) and also in the counties of Iasi - 3,720 (minus 20.73 per cent), Cluj - 3,602 (minus 40,50 per cent) and Dolj - 3,389 (plus ...

UiPath raises USD 153 mln, becomes Romania’s first “tech unicorn”

Wednesday, March 7, 2018

UiPath, an enterprise robotic process automation (RPA) software company founded in Bucharest by Romanian entrepreneurs Daniel Dines and Marius Tirca, has raised USD 153 million in a new funding series, following a year of record growth, romania-insider.com ...

ArcelorMittal Galati invests EUR 10 M to increase production and eliminate quality defects

Wednesday, March 7, 2018

ArcelorMittal Galati, part of ArcelorMittal, world‘s leading integrated steel and mining company, restarts the Continuous Casting Machine no 4, after commissioning an ample pack of investment, upgrades and maintenance works, amounting roughly EUR 10 million, as a press release informs, romaniajournal.ro reads. “This project is a part of our short and medium term efforts to modernize our Steel Shop and to implement –  at ...

Dacia speeds into 60th place in Brand Finance Auto 100 ranking, valued at nearly USD 1.5 bn

Wednesday, March 7, 2018

Car manufacturer Dacia is ranked 60th most valuable auto brand in the world, after taking the title of most valuable Romanian brand in the Brand Finance Romania 50 league table last year, romaniajournal.ro informs. Dacia has been going from ...

Antibiotice, to open subsidiaries in Republic of Moldova and Ukraine

Wednesday, March 7, 2018

The Antibiotice company will set up subsidiaries in the Republic of Moldova and Ukraine, according to a decision adopted by the Extraordinary General Meeting of Shareholders, reads a document published on the Bucharest Stock Exchange (BVB) website.The company's shares have dropped by 0.12 percent since the beginning of the year, and by 1.48 percent since the beginning of the month.Antibiotice Iasi recorded a net profit of over 33.5 million lei last ...

Retailer Jumbo, 6 month profit up 11 pct, Romania shines

Wednesday, March 7, 2018

Jumbo, Greece’s biggest listed specialty retailer, posted on Monday an 11 percent rise in net profit for the six months to December last year thanks to fast growing sales in Romania and Bulgaria, Reuters correspondent informs. Net profit in the July-to-December period came in at 90.4 million euros ($111.29 million), up from 81.4 million euros in the same period a year ago. The company said it would pay an interim dividend of 0.1728 euros a ...

Ford Romania posts record production in January, after introducing EcoSport SUV model

Wednesday, March 7, 2018

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US carmaker Ford posted a record high production at its Romanian plant located in Craiova, with more than 11,000 passenger cars produced in January, more than triple compared to January 2017, Automotive Manufacturers and Importers Association (APIA) data show, business-review.eu informs. Ford’s Romanian plant produced 11,074 cars in January, compared to 3,536 units in January 2017. Ford acquired the Craiova plant ...

Medicover Romania names Delia Iliasa as commercial director

Wednesday, March 7, 2018

Medicover has announced the appointment of Delia Iliasa as the new head of its commercial structure: Sales, Sales Development, Marketing, Customer Operations, business-review.eu informs. Prior to joining Medicover, Iliasa has been general manager of Club Moving Romania and, after the acquisition by World Class has joined the Management Board of World Class as COO. She has an overall experience of over 15 years and is expected to graduate with an ...

Vodafone Romania Foundation extends financial support for Smurd first aid programme

Wednesday, March 7, 2018

Vodafone Romania Foundation will continue in 2018 to back the 'Be prepared!( !)' Smurd caravan, which offers first aid training sessions to the population, telecompapr.com informs. The caravan will reach 75 localities during its third year. It's  by the Department for Emergency Situations carried out by the General Inspectorate for Emergency Situations and supported by the Smurd Foundation with the financial backing of the Vodafone ...

Tino Lindner, the new GM of JW Marriott Bucharest Grand Hotel

Wednesday, March 7, 2018

Tino Lindner takes over the management of the 5-star JW Marriott Bucharest Grand Hotel, replacing Fadlallah Zayat, who was appointed in the spring of ...

Dona group’s investments to EUR 5 mln in 2017 in distribution activity and network expansion

Wednesday, March 7, 2018

Dona group’s investments in distribution activity and network expansion (over 300 units, out of which 16 in franchise) reached EUR 5 million in 2017 and registered a turnover of EUR 230 million. Also it doubled its profit compared with the previous year, business-review.eu informs. The investments also included the acquisition of licenses and finalization of drugs storage construction. Eugen Banciu, president of the DONA ...

Flanco Retail: 2017 was best year in history, sales up to RON 983 mln

Wednesday, March 7, 2018

Flanco Retail, a Romanian brand active on the domestic market since 1994, ended 2017 with the highest sales in the company’s history, reaching RON 983 million (EUR 210 million), a 7 percent growth from the previous year, business-review.eu reads. Dragos Sirbu, CEO of Flanco Retail: “2017 was a peak year in Romanian retail, with a strong growth of consumption on several segments. Beyond historic sales, last year ...

The  Commercial Register: the Romanians set up over 9,800 companies in the first month of the year

Wednesday, February 28, 2018

The Romanians set up in January, 9,878 new companies, up by 80.4% against  January 2017, shows the statistics published on Friday by the National Official of the Commercial Register (ONRC). In January 2017, the Romanians set up5,475 companies. The highest dynamics was recorded in agriculture, forestry and fishery with growth of 285.63% from 348 companies in January 2017 to 1,342 in January ...

THE WEIGHT OF INNOVATIVE ENTERPRISES DECREASED BY 2.6% IN THE PERIOD 2014-2016

Wednesday, February 28, 2018

Innovation in Romanian enterprises dropped in the period 2014-2016 compared to the period 2012-2014, according to the provisional results of the statistical survey on innovation in industry and services. Out of 1246 large enterprises, 223 were innovative, which means that less than one in five large enterprises innovated. Out of 27563 small and medium enterprises, 2702 ...

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