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Azitis.com nears EUR 20 million in sales across 600 auctions in less than a year since launch
Wednesday, December 11, 2024
Azitis.com, the first fully digitalized auction platform for distressed assets, has recorded nearly €20 million in sales and conducted over 600 auctions in just 10 months since its launch. The platform currently hosts 350 assets across 11 categories, ranging from land and machinery to turnkey businesses, with a total estimated value exceeding €40 million. All listed assets represent acquisition opportunities for individuals and businesses, sourced from companies in ...
INVL Baltic Sea Growth Fund signs agreement to acquire the Pehart Group in Romania
Wednesday, December 11, 2024
INVL Baltic Sea Growth Fund, the private equity fund in the Baltics, has signed an agreement to acquire shares in Pehart Group, a producer of household and industrial paper products in Romania and owner of the oldest paper factory in Romania with a 187-year tradition. The transaction with Abris Capital Partners is expected to be completed in the first quarter of 2025, subject to obtaining the necessary ...
Survey: Companies in Romania estimate an increase in the impact of regulations in the area of circular economy
Wednesday, December 11, 2024
Over two-thirds (67%) of the companies active in Romania expect an increase in the impact of regulations in the circular economy area, with transparent communication and information of shareholders appearing at the top of the transition priorities, shows a survey published on Wednesday by Deloitte.According to the research entitled "Circular Economy. Perception and Implementation Status in Romania 2024," six out of ten companies (59%) say that they have ...
Norwegian innovation - prefabricated energy piles - presented as a first in Oradea
Wednesday, December 11, 2024
A Norwegian innovation in construction - prefabricated energy piles - will be presented for the first time in Romania at a workshop in Oradea on December 10, as part of the international GeoInnovatePile project, which aims to transfer technology to Romania, Horia Ban, president of the Romanian Geoexchange Society (SRG), saidThis knowledge transfer takes place through the SRG's Centre of Excellence for Surface Geothermal Energy for Eastern Europe, based in ...
4,943 foreign-owned companies established in Romania in first ten months
Wednesday, December 11, 2024
A total of 4,943 foreign-owned companies were established in Romania in the first ten months of 2024, a decrease of 15.5% compared to the same period in 2023, according to data collected by the National Trade Registry Office (ONRC).These 4,943 new companies had a total subscribed share capital of nearly 17.5 million dollars, a decrease of 85.53% compared to the subscribed capital of firms registered in the first ten months of 2023, which was 121 ...
Competition Council Approves Mega Image’s Conditional Profi Takeover
Wednesday, December 11, 2024
The Competition Council has authorised, with conditions, the transaction by which Delhaize “The Lion” Nederland B.V. (Mega Image) takes over Profi Rom Food S.R.L. As a result, Mega Image must fulfill a series of structural and behavioural commitments to remove the competition concerns identified both in its relationship with suppliers and on the local market of retail trade of current ...
The French from CDS Groupe are coming to Romania
Wednesday, December 4, 2024
The French company CDS Groupe, a supplier of booking and payment solutions in the hotel business, in full expansion in Europe, ambitious in become a leader on the continent, have come to Romania, data analysed by Profit.ro show. The branch, based in Timisoara, will act as touroperator. In November, CDS Groupe purchased the Italian company SIAP, a supplier of software solutions for traveling and ...
Romania exported cereals and cereal products of 2.39 billion euros
Wednesday, December 4, 2024
Romania exported, in the first 8 months of 2024, cereals and cereal products of 2.398 billion euros, 18% less than in the same period of 2023, according to data centralized by the National Statistics Institute (INS). In the mentioned period, imports of cereals and cereal products amounted to 989.2 million euros (minus 11.2%, against the first 8 months of 2023), with an excess of 1.408 billion euros on that ...
“Rituals” extends to Romania
Wednesday, December 4, 2024
Rituals cosmetic brand, with over 10,000 employees in 43 world countries and a portfolio of 800 products, which entered Romania with its own store in the Fall, is now extending in the local market to a second store in Sun Plaza, Bucharest. The first store opened in the Mega Mall, a commercial center in Bucharest. Until now, products had been sold vis Douglas, Sephora network. The company was set up in 2000 in Amsterdam, and is now present in cities ...
As many as 5,896 companies and authorized individuals become insolvent in first ten months of 2024
Wednesday, December 4, 2024
The number of commercial companies and authorized individuals (PFAs) that became insolvent in the first ten months of this year was 5,896, an increase of 9.63% compared to the similar period in 2023, when 5,378 insolvencies were registered, according to the data on the website of the National Registry Office of Commerce (ONRC).The most companies and PFAs that filed for insolvency between January 1 and October 31, 2024 were registered in Bucharest, respectively 1,053, a ...
Norofert announces 10% increase in revenue and a 24% in net profit in 9M 2024
Wednesday, December 4, 2024
Norofert, the leading producer of organic agricultural inputs and biotechnology provider for agriculture in Romania, listed on the AeRO market of the Bucharest Stock Exchange, recorded a turnover of RON 35.5 million in the first nine months of 2024, marking a 10% increase compared to the same period last year. This growth was driven by the production and commercialization of agricultural inputs, including results from the USA operations. Despite a challenging ...
Schaeffler Announces Layoffs at Brasov Factory
Wednesday, December 4, 2024
The German group Schaeffler, one of the largest manufacturers of automotive components, recently announced that it will lay off 4,700 employees in Europe, and now it has revealed that the Brasov factory will also be affected. Part of the production will be moved to other plants, but investments will also be made for the production of new components that are currently manufactured in sites in Europe and Asia. Schaeffler, which opened its Cristian ...
Over 104,000 natural and legal persons, registered in first ten months of 2024
Wednesday, December 4, 2024
The number of registrations of natural and legal persons decreased, in the first ten months of 2024, by 15.64%, compared to the similar period of the previous year, totaling 104,702 registrations, according to the data centralized by the National Trade Register Office (ONRC).The most registrations were registered in the Municipality of Bucharest, respectively 23,733 (minus 8.37%, compared to the first ten months of 2023) and in the counties of Ilfov - with ...
Competition Council Approves Mini-Farm’s Takeover of 10 Tinos Pharmacies
Wednesday, December 4, 2024
The Competition Council has authorized the transaction by which Mini-Farm SRL intends to take over 10 pharmacies belonging to Tinos Farm SRL, located in Bucharest and Ilfov County. Mini-Farm SRL is mainly present on the retail market of pharmaceutical and parapharmaceutical products through pharmacies. Mini-Farm SRL owns 117 pharmacies in Tulcea, Constanta counties and in the Municipality of Bucharest. The 10 pharmacies ...
KoçZer Expands into Europe with Romanian Subsidiary
Wednesday, December 4, 2024
KoçZer, Türkiye’s procurement and sourcing management company, officially announced its entry into the European market with the establishment of its first subsidiary in Romania. This milestone underscores KoçZer’s commitment to becoming a dominant player in the European supply chain management sector. The launch event, held at Radisson Blu Hotel in Bucharest, was attended by Türkiye’s Ambassador to Romania ...
Romcim launches CEVO, a range of products with lower CO2 emissions
Wednesday, November 27, 2024
* A new step in Romcim's strategy to support evolved construction projects Romcim, a CRH Group company, is launching CEVO, a range of innovative cement and concrete solutions with lower CO2 emissions. The CEVO range for advanced construction has been developed to respond to the growing interest in the Romanian construction market for the use of ...
Competition Council Reviews Commitments by Bucharest Airports Company
Wednesday, November 27, 2024
The Competition Council submits to public debate the commitments proposed by the National Company “Aeroporturi Bucure?ti” S.A. (CNAB), in order to remove the competition concerns that led to the initiation of the investigation regarding the limitation of market access of companies that manage IT applications through which taxis can be ordered from the airport. CNAB decided that only the IT ...
Number of companies suspending activity, up almost 20pct in first nine months
Wednesday, November 27, 2024
The number of companies that suspended their activity in the first nine months of 2024 was 13,481, an increase of 19.29% compared to the same period last year, according to data published by the National Trade Registry Office (ONRC).The highest number of companies that suspended their activity was in Bucharest, with 1,619 (an increase of 20.64% compared to January-September 2023), followed by the counties of Cluj, with 837 suspended companies ...
Cugir Arms Factory Upgraded with $82M to Boost NATO Ammo Output
Wednesday, November 27, 2024
The authorities plan to modernize the arms factory in Cugir, Alba County, following investments of 410 million lei. The modernization aims to increase production capacity, but also diversify the manufacturing range of NATO ammunition of 12.7×99 mm caliber, according to a draft Government Decision, put into public debate at the Ministry of Economy. “Currently, ...
Amazon is closing its AI department in Romania - 400 people laid off
Wednesday, November 27, 2024
"Negotiations are currently underway regarding the amount of compensation paid by the company to those being laid off, the company has offered only one severance payment, but employees are pushing for more," ...