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Carmaker Groupe Renault Romania extends production halt at Mioveni-based Dacia plant

Wednesday, April 8, 2020

Carmaker Groupe Renault Romania announced on Thursday in a release the extension of the production halt at the Mioveni-based Dacia plant.According to the cited source, the decision was made in agreement with the social partners "in the context of the global spread of the novel coronavirus and of the health crisis developments"."In order to resume production, the company is moving to take appropriate measures to ensure the protection of the employees ...

Green Group buys local peer Eltex Recycling

Wednesday, April 8, 2020

Romanian recycling company Green Group said it is buying local industrial waste recycling company Eltex Recycling for an undisclosed sum.  The two companies will join forces in order to strengthen Eltex Recycling's position as a leader in providing industrial waste management solutions in Romania, Green Group said in a press release. "The acquisition of Eltex Recycling represents another step for Green Group towards the ...

Sika wraps up acquisition of Adeplast

Wednesday, April 8, 2020

Swiss producer of special chemicals for construction and industry Sika has completed the acquisition of Romanian mortars and thermal insulation solutions manufacturer Adeplast, the deal advisor said on Wednesday. The transaction was finalized on March 31, deal advisor Filip & Company said in a press release. "There is a slowdown in the activity of many industries, and the instability of the markets we ...

Deloitte : 2020, a difficult year for the M&A market

Wednesday, April 8, 2020

The mergers and acquisitions market (M&A) recorded 19 transactions in Romania in the first quarter of the year, four more compared to the same period in 2019. According to Deloitte’s estimates, the total value of the market, including transactions whose values were not disclosed, was between EUR 600 and 750 million in Q1 2020 (EUR 200-300 million in Q1 2019), while the disclosed transactions accounted for EUR 337 million (EUR 120 million in Q1 ...

The average daily number of newly created companies has considerably lowered in the context of Covid-19

Wednesday, April 1, 2020

The number of companies set up at national level has dropped considerabley since the beginning of the emergency state established in Romania, so that during the week of 23-27 March were created 670 new companies, more than five times fewer than in the first week of the month, 2-8 March, when 3,514 new companies were set up, according t an analysis of Termene.ro, the platform which offer information updated in real time about the financial and judicial data of the ...

Analysis: Many entrepreneurs want to support their business, not to send people in unemployment

Wednesday, April 1, 2020

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Many entrepreneurs want to continue their activity, to pay their employees and to extend their services and sales, as the pandemics of coronavirus has placed them in a  ‘ unprecedented blockage’ which could lead to bankruptcy, shows an analysis made by a consultancy company.‘The business of small entrepreneurs were hit the most – by the corona crisis. Beyond the perspective of technical unemployment, the facilities offered by the state ...

Ford Romania leaves the Association of Producers and Importers of Automobiles starting with 1 April

Wednesday, April 1, 2020

Ford Romania leaves, starting with 1 April 2020 the Association of Producers and Importers of Automobiles (APIA) announced the company in a press release.‘The main   reason for which we have decided to leave the APIA is connected to a unitary and fundamental approach of the issues which the auto industry faces, so that certain aspects mentioned by us along the years have not been managed at the level of priority necessary in an objective way. Even so, ...

Vodafone Romania, UPC concluded the legal merger

Wednesday, April 1, 2020

The acquisition of UPC is one of the most important transactions within the telecom market in Romania. This process will create an important partner for complete telecommunications services that brings enriched benefits and top products for customers, companies and other socio-economical actors. Moreover, Vodafone will be able to support an ascending path of the Romanian digital economy. Today, Vodafone Romania announces the finalisation of the legal ...

Metair suspends work at Rombat battery plant due to coronavirus pandemic

Wednesday, April 1, 2020

South Africa-based energy storage products manufacturer Metair Investments has suspended operations at its Rombat battery plant in Romania due to the coronavirus pandemic, it said. Metair has also closed Möll factory în Germany and all of its locations in South Africa, it said in a statement filed with the Johannesburg Stock Exchange on Monday. The company's Mutlu Akü factory in ...

Pirelli Tyres Romania extends plant closure

Wednesday, April 1, 2020

Pirelli Tyres Romania, a subsidiary of Italy's Pirelli Group, said on Tuesday it has decided not to reopen its plant on April 1, as previously planned, due to the spread of the COVID-19 disease. "As a result of new, more restrictive government measures introduced in the fight against Covid-19, including new restrictions on the freedom of movement, Pirelli has extended the suspension of its Slatina plant activity. Production will not start on April ...

Electrolux closes factory in Satu Mare

Wednesday, April 1, 2020

Swedish group Electrolux has temporarily closed its gas oven factory in Satu Mare, northwestern Romania, where it has 850 employees, due to lack of ...

The bonds issued by the software developer Qualitance enter trading at the BSE

Wednesday, April 1, 2020

The euro denominated corporate bonds issued by the software developer Qualitance OB will start trading on the Bucharest Stock Exchange – BVB Multilateral Trading System (MTS). The bonds were bought by 59 investors, out of which 58 are individuals and 1 legal entity, in a private placement carried out ...

COVID-19 slightly affects aluminium supply of Romania's Alro Group

Wednesday, April 1, 2020

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Romanian aluminium producer Alro Group [BSE:ALR] said on Friday that the coronavirus disease (COVID-19) crisis has slightly affected its aluminium supply. At present, several countries have temporarily closed their borders for individuals, causing certain slowdowns and temporary bottlenecks to outbound  supply from Romania and to imports of some materials from affected countries, Alro Group said in its 2019 financial statement filed with ...

Wetterbest opens EUR 9 mln factory în Baicoi, Prahova county

Wednesday, April 1, 2020

Wetterbest, the second-biggest Romanian metal roofing systems producer has re-located and expanded its production facility in Baicoi, Prahova county. The project has involved investments worth RON 44.5 million (over EUR 9 mln) and has created 42 new jobs. The factory will thus reach 350 employees. The construction work started in the second half of 2018 and has been carried out in two phases. The project was partially ...

Survey: Only 9% of Romania’s entrepreneurs find Govt.’s first aid package helpful

Wednesday, April 1, 2020

Only 9% of the respondents in a survey carried by the association of Romanian small and medium sized enterprises (CNIPMMR) have declared that the economic measures adopted by the Government help them greatly. Meanwhile, 34.4% of the entrepreneurs stated that the measures do not help at all, 30.5% stated that they help only to a small extent, while 26.2% said that they cannot evaluate the impact of these measures on their ...

Managers of SMEs expect 50pct reduction in activity or even closure

Wednesday, April 1, 2020

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Small and medium-sized enterprises (SMEs) will be the most affected by the coronavirus pandemic, and their managers estimated as the main risk reducing the activity by more than 50pct or even closing it, the National Institute of Statistics (INS) reports on Wednesday after a survey into the evolution of the economic activity."In order to measure the impact of SARS-Cov.2, the INS carried out an ad-hoc survey between March 17 and 19, 2020 regarding the estimation of ...

Chimcomplex launches the production of the biocide that underpins disinfectants

Wednesday, April 1, 2020

Chimcomplex has received from the Ministry of Health the production approval for 1.25% concentration sodium hypochlorite. The company has modified its industrial production lines during the last weeks, in order to prioritize the production of sodium hypochlorite, this being a necessary product for public health in the context of the Coronavirus pandemic. Starting tomorrow, hypochlorite will be launched into production on the Ramnicu Valcea and Onesti platforms in an effort to ...

Issues for stakeholders amidst the financial difficulties triggered by the coronavirus crisis

Wednesday, March 25, 2020

The financial impact of Coronavirus (Covid-19) on businesses which operate or are reliant upon suppliers or customers in affected areas has been widely reported. Whilst certain sectors including airlines, manufacturing, retail and tourism appear to be worst affected, others will undoubtedly be impacted if the coronavirus cannot be contained in the timeframe originally forecasted, reveals the analisys by Radu Ropot?, Counsel and coordinator of the ...

Most of outsourcing industry employees already work from home

Wednesday, March 25, 2020

About 98% of companies in Romania’s business service outsourcing industry allow their employees to work from home, in order to avoid the spread of the coronavirus pandemic, according to a survey conducted by the Business Service Leaders Association in Romania (ABSL). In 43% of the companies in the industry, between 90 and 100% of the employees work from home during this period. About 20% of companies said that around 70 - ...

280,000 companies in Romania face a high insolvency risk over COVID-19

Wednesday, March 25, 2020

The coronavirus pandemic puts at risk hundreds of thousands of companies from the private sector. So far, 37 percent of Romanian companies reduced their activity and 23 percent closed all operations due to COVID-19. Over 280,000 companies in Romania are currently in a situation of high risk of insolvency, reveals a study conducted by Termene.ro, a platform that offers current information real time about the financial and legal data of the Romanian ...

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