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Regina Maria acquires Genetic Center labs in Bucharest and Cluj

Wednesday, June 26, 2019

Private healthcare network Regina Maria has announced that it would take over Genetic Center, a medical lab chain specialised in genetic tests, with centers in Bucharest and Cluj and harvesting points in several Romanian cities. The Cluj Genetic Center was opened in 2009 and was the second genetics lab in Romania. The Bucharest center was opened in 2016, following a research project related to male infertility. Currently, this lab provides pre- and ...

GapMinder Venture Partners BV decided to give EUR 50,000 funding to 2 new startups

Wednesday, June 26, 2019

GapMinder Venture Partners BV decided to give an additional EUR 50,000 funding to 2 new startups, part of the Techcelerator program. Seven of the startups in the program were present on Upgrade 100 stage for a pitching session and 2 of the Techcelerator’s alumni held presentations to get an additional round of investment. During the Demo Day event, xVision from Timi?oara, one of the Techcelerator alumni got a new round of investment totaling EUR ...

Oracle recorded total revenues of USD 39.5 billion in fiscal year 2019, up 3 percent

Wednesday, June 26, 2019

Oracle Corporation announced 2019 Q4 fiscal results and fiscal 2019 full year results, http://business-review.eu reads. Total Quarterly Revenues were USD 11.1 billion, up 1 percent in USD and up 4 percent in constant currency compared to Q4 last year. Cloud Services and License Support revenues were USD 6.8 billion, while Cloud License and On-Premise License revenues were USD 2.5 billion. Total Cloud Services and License Support plus ...

Georges Durdilly, appointed Head of Airbus Romania

Wednesday, June 19, 2019

Georges Durdilly, a former French Army combat helicopter pilot, has been appointed as Head of Country for Romania, replacing in this role Serge Durand who has retired. Durdilly, aged 60, will represent Airbus as one company towards the country’s key stakeholders, and support the development of commercial operations. Georges Durdilly will also hold the position of General Manager at Airbus Helicopters ...

Endava opens two new software centres in Timisoara and Brasov

Wednesday, June 19, 2019

Endava, one of the 5 biggest software companies in Romania by 2018 turnover (RON 501.8 million) has announced the opening of two new offices in Timisoara and Brasov, reaching a total of seven development centres in Romania. Its five existing offices are in Cluj-Napoca, Iasi, Bucuresti, Pitesti and Targu-Mures. The company had over 2,790 employees in Romania at the end of March 2019. It has already started to recruit more people in areas like software ...

Alina Stavaru, promoted partner at RTPR Allen & Overy

Wednesday, June 19, 2019

After 10 years of dedicated business activity and dozens of successful M&A projects, particularly Private Equity, complex corporate projects and Employment and Benefits, Alina Stavaru receives official recognition being promoted Partner within RTPR Allen & Overy, joining by that the team of five partners: Costin Taracila, Victor Padurari, Alexandru Retevoescu, Mihai Ristici and Valentin Berea. "It's a first ...

Neogen Group buys stake in boat rental marketplace Sailo.com

Wednesday, June 19, 2019

Neogen Group, the parent company of several brands including BestJobs and Vivre, has acquired a 9.4 percent stake in Sailo.com, a boat rental marketplace founded by a Romanian entrepreneur in the US and active in over 100 countries in North and South America, Europe and Asia. Sailo’s post-investment market cap reaches USD 9 million. Neogen is thus entering the still small, but highly dynamic boat rental market, which is expected to reach a value ...

Romania Blockchain Summit to take place on June 21-22 in Bucharest

Wednesday, June 19, 2019

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Romania Blockchain Summit promises to be one of the most important conferences dedicated to innovative technologies in the South-Eastern European region, bringing together the public sector, political decision-makers, developers, researchers, global entrepreneurs, leaders and innovators.  Business Review is happy to announce that our Editor-in-Chief, Sorin Melenciuc, will host one of the conference panels – “Blockchain as an ...

OLX reports 43% higher earnings in 2018

Wednesday, June 19, 2019

OLX, the largest online classifieds platform in Romania, reported its net profit margin hit roughly 25% in 2018. Last year, OLX introduced much stricter limits for publishing free ads for selling electronics and home appliances. OLX.ro attracts about 700,000 to 1,000,000 unique visitors a day. Its turnover crossed the RON 100 million (EUR 22 mln) threshold for the first time in 2018 when it reported the largest net profit so far ...

MAS RE shifts focus from Western to central and Eastern Europe

Wednesday, June 19, 2019

South African developer and real estate investor MAS RE, which owns and develops, in partnership with Prime Kapital, 12 real estate projects in Romania, decided to exit the Western European markets to focus on the Eastern markets, particularly ...

Kaufland launches new hypermarket concept in Romania

Wednesday, June 19, 2019

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German retailer Kaufland revamped its store on Soseaua Colentina in Bucharest and brought there a new concept of hypermarket that offers clients “a completely modernized shopping experience inspired by shopping malls.” The revamping process increased and diversified the store’s offer, which now includes a Sushi Bar, a Fresh Bar and a Sandwich Bar, as well a self-service bar and new assortments of fresh products ready to serve. The ...

Number of companies suspending their activity in January-April down 21.16 pct

Wednesday, June 12, 2019

The number of companies that suspended their activity in the first four months of the year dropped by 21.16 per cent compared with the same period of 2018, down to 5,486, according to data published by the National Trade Register Office (ONRC).In April, 1,052 companies suspended their activity.Most companies that suspended their activity in the first four months of this year are in Bucharest, namely 538, down by 37.8 per cent compared with the same ...

Study: Labor market crisis forcing companies to invest in digitization

Wednesday, June 12, 2019

Two-thirds of Romanian companies are determined to invest significantly in digitization over the next 3 years, with 80 percent facing, among other things, the problem of skilled human resources. 79 percent target investment in production, 50 percent in control and 46 percent in planning, according to a survey of more than 300 companies in the Romanian industry. The problem of lack of work-force affects the entire Romanian labor market, and the ...

Clariant opens EUR 140 mln bioethanol plant in Romania

Wednesday, June 12, 2019

Clariant, a world leader in specialty chemicals, opened in Podari, southern Romania, its most innovative plant where it will produce bioethanol. The investor poured EUR 140 million in the plant, out of which EUR 40 million was covered with a grant from the European ...

Bongard, interested in insolvent Romanian cable producer Romcab

Wednesday, June 12, 2019

Bongard, a German family-owned producer of equipment for the cable industry, wants to buy the production lines of the Romanian power and fiber optic cable producer Romcab, which went into insolvency in ...

MedLife to spend EUR 20 million on acquisitions in Romania and abroad

Wednesday, June 12, 2019

The administrative board of MedLife, one of the biggest private healthcare services provider in Romania, has announced that it would increase its credit limit by EUR 15 million, to which other company liquidities will be added to reach EUR 20 million that would be used to develop its national and international expansion strategy through acquisitions, according to news.ro. The bank union through which the credit will be accessed includes BCR as ...

Uzina Mecanica Plopeni to produce Beretta assault weapons in six months

Wednesday, June 12, 2019

Uzina Mecanica Plopeni, a subsidiary of the Romanian National Company for Military Technique Romarm, will start to produce Beretta assault weapons in about six months. Production will start based on a memorandum of understanding signed on June 10 with the Italian company Beretta Holding, economy minister Niculae ...

Top 10 biggest companies in Romania increase sales by 20% in 2018

Wednesday, June 12, 2019

The top 10 companies in Romania, all multinationals, recorded a turnover of RON 131 billion (EUR 28 billion) in 2018, up by 20% compared to ...

Ursus Breweries spends EUR 22 mln to upgrade production capacities

Wednesday, June 12, 2019

Ursus Breweries, Romania’s largest beer producer, has completed an investment of EUR 22 million in expanding the capacity of its factories in Brasov and Timisoara, Robert Uzuna, a director of the company, announced at an event at Brasov, ...

IKEA to open its second Bucharest store this month

Wednesday, June 12, 2019

Swedish furniture retailer IKEA has confirmed that it would open its second store in Bucharest, on Theodor Pallady boulevard, on June 24. It will be IKEA’s largest store in South-East Europe. IKEA Pallady has a surface area of 37,000 sqm – 10,000 sqm larger than the Baneasa store. The investment in the new store has reached EUR 90 million and will have over 10,000 products on ...

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