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VMLY&R enters the Romanian advertising market

Wednesday, April 6, 2022

VMLY&R took over Fractal Communications, Romanian local agency part of WPP, and joins VMLY&R Commerce to offer brands a connected experience.   Taking over the local agency by VMLY&R is part of the global strategy to simplify and integrate capabilities and services offered to the partners. At global level, VMLY&R has over 12.000 people in 100 offices from 44 countries. VMLY&R is behind awarded campaigns for Dell, Danone, Colgate-Palmolive, ...

Boualem Saidi takes the lead in Bayer Romania from Sercin Giray

Wednesday, April 6, 2022

As of April 1st, 2022, Boualem Saidi takes over the lead of Bayer Romania, Bulgaria and the Republic of Moldova from his predecessor Sercin Giray, who will continue her activity as Head of Performance & Community Management and Bayer2022 Platform Transformation Program within Group Finance in Leverkusen.   Boualem joined our Country Group in July 2020, together with his family. Since then he is responsible forleading the Crop Science Division for Bayer, coordinating ...

Solartium becomes Meditrina Romania after the acquisition by the pharmaceutical group

Wednesday, April 6, 2022

As the Romanian start-up Solartium becomes Meditrina, Romania is set to benefit from the development potential of the international group Meditrina Pharmaceuticals after the acquisition of the Solartium start-up. Thus, Meditrina Pharmaceutical Group ...

Enphase to begin production in Romania next year

Wednesday, April 6, 2022

Enphase Energy (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of solar microinverters, announced plans to expand its global manufacturing capacity starting in Q1 2023 with new production lines at the Timisoara-based factory held by its partner Flex.   Flex, which provides innovative design, engineering, manufacturing and logistics services to companies of all sizes in various industries, will begin producing for Enphase, at its ...

Dacia car factory indirectly touched by sanctions against Russia

Wednesday, April 6, 2022

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The employees of the largest Romanian car factory Dacia, part of the Renault group, have expressed their discontent with their incomes eroded by the rising energy prices and asked for Government’s support. They will partake in the demonstration organized by the trade federation BNS (Blocul National Sindical) in front of the Government on April 6.   The employees’ unrest was seemingly aggravated by the group’s decision to cease operations in Russia, ...

Azomures could resume fertilizer production with European launch of support package for energy-intensive industries

Wednesday, March 30, 2022

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The central Targu-Mures based Azomures company announced on Monday that it could resume the production of fertilizers for agriculture with the launch of the European package of support for energy-intensive industries, but the schedule for restarting the facilities also depends on availability of gas for the Romanian market."The European Commission has recently adopted an economic support package, aimed directly at farmers and energy-intensive companies such ...

RE/MAX extends by 5 more local offices

Wednesday, March 30, 2022

RE/MAX Romania, part of the world real estate leader and number one franchise at world level for this segment, announced on Monday that it would extend to another 5 units at local level in Brasov, Arad, Galati and two in Bucharest.   “RE/MAX Romania, part of the world real estate leader and number one franchise at world level for this segment, extends by five more units at local level, in big cities like Brasov ...

Biofarm targets a 16% increase in turnover in 2022

Wednesday, March 30, 2022

Biofarm, one of the most important drug producers in Romania, estimates a 16% increase in turnover for this year, after recording a value of 239 million lei and an EBITDA of approximately 2021 in 2021 82 million lei, and for 2022 it aims to increase it by 15% compared to the end of the year.   “We ended the year 2021 with very good results and we are confident that the investments budgeted for this year will ...

Elrond Network buys capital financial services operating Twispay

Wednesday, March 30, 2022

Elrond Network, the blockchain company based in Sibiu has purchased the first e-money institution licensed in Romania, Capital Financial Services, which operates under the Twispay brand.   Deloitte Romania and Reff &Associated/ Deloitte Legal assisted, via two different multidisciplinary teams, both the sellers and the buyer.   Elrond ...

Steel roofing producer Bilka reports 22% net profit margin in 2021

Wednesday, March 30, 2022

Steel roofing manufacturer Bilka, an entrepreneurial company in Brasov owned by Horatiu Tepes, achieved a net profit of RON 245 mln (EUR 50 mln) for 2021 and a net profit margin of 22%, according to the data reported by the company.   The company's turnover rose by 40% compared to 2020, to RON 1.1 bln (EUR 220 mln) while the net profit more than doubled from RON 102 ...

Fibreglass mesh producer BICO takes over Moldovan peer Terra Impex

Wednesday, March 30, 2022

BICO Industries, the leading manufacturer of fibreglass mesh in Romania and part of the ROCA Industry construction materials holding, is expanding regionally by taking over Moldovan peer Terra Impex.   "This is an important moment after listing our holding on the Bucharest Stock Exchange and a strategic step by BICO Industries to significantly increase their production capacity. The goal of BICO for the ...

Kingfisher Group announces global financial results for 2021

Wednesday, March 30, 2022

2021 was a year of record revenue and profits for the Kingfisher Group, according to the global financial results released today: GBP 13.2 billion in sales and a profit increase of 20.9%. The company also gained market share in the UK and France and returned over £550m to shareholders, including dividends and ongoing £300m share buyback. “Kingfisher has delivered a year of very strong financial performance. We saw ...

Romania faces a series of major restructurings as companies prepare for austerity

Wednesday, March 30, 2022

The second half of 2022 will force company leaders to adopt an austerity plan, in the context of the accelerated increase of energy or fuel prices, but also in the current conflict in Ukraine context. Thus, in some industries, marketing budgets or certain bonuses for employees may be waived and there will be cases where even restructuring processes will take place, according to an analysis by the HR and organizational transformation company Arthur Hunt ...

Varta seeks 100 ha of land near Arad to build electric car battery factory

Wednesday, March 30, 2022

German group Varta seeks 100 ha of land close to Arad, western Romania, as a potential location for a EUR 1 bln e-vehicle battery ...

Smartree Group ended 2021 with a turnover up by 17% compared to 2020

Wednesday, March 30, 2022

  Smartree, the strategic partner that offers integrated human resources services and software solutions, announces last year’s financial results, as well as the main development directions for 2022.   Therefore, in 2021, the turnover exceeded 123 million lei, increasing by 17% compared to the previous year. This increase was partly due to the new ...

Medlife increases stock packages in Genesys and Almina companies

Wednesday, March 23, 2022

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Medlife, the private medical service market leader in Romania, announced that it increases its stock participation in two companies, Genesys and Almina. “Thus, Medlife increases by 10% its package of shares in Genesys company, one of the biggest medical private service operator in the western part of Romania, now holding a package of 83%,” the group announces.   Genesys has been part of Medlife System since 2011, when representatives ...

EximBank grants financial package of 21 million lei to Urbioled Iasi

Wednesday, March 23, 2022

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EximBank announced it concluded a financial accord of 21 million lei with Urbioled Iasi, a company producing, distributing and installing LED type sources and the financial package structured by the bank is meant to finance and current activity of the company.   Urbioled is a company with 100% Romanian private capital. Set up in 2013, the company began its activity as distributor of street lighting installations and later on became a producer and ...

Bittnet Group announces signing of M&A deal with TopTech

Wednesday, March 23, 2022

  Bittnet, a group of IT companies listed on the main market of the Bucharest Stock Exchange under the ticker BNET, announced 2022's first M&A transaction following the completion of negotiations for the full takeover of TopTech, a local company specializing in IT&C equipment and solutions, Bittnet said in a release.According to the cited source, the transaction now awaits the approval of the Competition Council."We welcome our new ...

Agroserv Mariuta posts a turnover of RON 68.4 million for 2021

Wednesday, March 23, 2022

Agroserv Mariuta (BVB: MILK ), a Romanian agricultural company and owner of the Laptaria cu Caimac brand, posts a turnover of 68.3 million lei for 2021, an increase of 40% compared to 2020 and a net profit ...

The startup Frisbo expands to four new countries in Q1

Wednesday, March 23, 2022

Romanian startup Frisbo, which runs an e-fulfillment platform for the collection, packing and delivery of online orders, announces the expansion of its operations to the UK, Spain, Italy and Austria in the first months of this year, thus facilitating the logistics of European online stores that want to sell on these markets, the company said in a statement on Monday.For the current year, Frisbo aims to expand its operations in the Benelux, Estonia, Lithuania and Finland and ...

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