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Optim PM wins Project Management contract with Continental Automotive Serbia

Wednesday, May 5, 2021

Optim Project Management hasbeen appointed to project manage the construction of a new Continental electronics assembly and manufacturing facility in Novi Sad.   The facility will have a GBA of 29,500 sqm and ...

A new P&G Plant in Urlati to serve European Consumers with Ariel PODS Innovation

Wednesday, May 5, 2021

Procter & Gamble inaugurates a new manufacturing site in Urlati, Prahova County. The new plant will produce Ariel PODS which is the Company’s latest laundry detergent innovation.   By exporting Ariel PODS in many European ...

About 95% of companies in the outsourcing industry in Romania will implement hybrid work after the pandemic

Wednesday, May 5, 2021

Around 95% of the companies in the local outsourcing industry will implement hybrid work arrangements, combining office and remote work, after the pandemic, a survey of the  Association of Business Service Leaders in Romania (ABSL) quoted ...

More than half of Romanian SMEs claim there are barriers to digital transformation

Wednesday, May 5, 2021

Small and medium-sized enterprises (SMEs) operating in Romania are bringing up the rear in the European Union (EU) digital transformation rankings, but overall they are more cautious and willing to take this step than those in countries with more advanced in the digital transformation process, show findings of the specialist analysis "Barriers to digital transformation of the public and private sectors in Romania," published on Wednesday by the Authority for the ...

Impact's balance sheet for 2020, approved by GMS: revenues increased by 28% due to sales in Greenfield Baneasa and Luxuria Residence projects  

Wednesday, May 5, 2021

The General Meeting of Shareholders approved the financial statements of Impact Developer & Contractor for 2020. The company's balance sheet shows revenues worth 42.3 million euros, obtained from home sales in the projects Greenfield Baneasa and Luxuria Residence. The revenues increased by 28% compared to 2019, thus representing ...

 Venture Capital Investors increase their investments in Romanian Startups despite the COVID-19 crisis

Wednesday, May 5, 2021

The majority of Romanian VC funds continued to make investments in 2020 even during the Covid-19 crisis, while a third of private equity funds and business angels made no investments.   Confidence in the long-term growth prospects of the VC and PE industry has remained very positive and the acceleration of digitization resulting from the crisis is seen as a substantial opportunity, according to the European Investment Fund ...

Romanian company DocProcess opens commercial office in USA

Wednesday, April 28, 2021

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DocProcess, a leader in the automation of business processes in Romania, announced on Tuesday the opening of a commercial office in the USA , pointing out that global pandemic changed the way in which companies function and collaborate among themselves and with public institutions.   The Austin office is the third location opened by DocProcess abroad. In 2018 the company inaugurated a research and development center in Grenoble, France and in April ...

Alten wants to hire 100 IT and engineering specialists in Romania

Wednesday, April 28, 2021

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Alten, the local subsidiary of the French group and one of the most important IT and engineering consulting companies, wants to hire 100 IT and engineering specialists this year for offices in Romania, thus reaching 730 employees, the company announced on Tuesday.   “The company plans to reach a number of 730 employees in 2021, after recruiting 100 IT and engineering specialists for offices in Romania,” a press release of the company ...

6,755 companies shut down during Q1 of this year

Wednesday, April 28, 2021

The number of shut down companies has gone down by 13.1% in 2021, in comparison with the same period of the previous year, to 6,755, from 7,773 during the period of January-March 2020, according to the National Trade Register Office (ONRC).The highest number of closed companies was registered in the Bucharest Municipality, with 1,270 companies (dropping by 7.16%) and in the counties of Iasi (323, plus 38.03%), Timis (315, minus 21.84%), Constanta (312, minus 28.44%) and ...

P&G inaugurates new plant in Romania

Wednesday, April 28, 2021

Procter & Gamble inaugurates a new manufacturing site in Urla?i, Prahova County, today. The new plant will produce Ariel PODS which is the Company’s latest laundry detergent innovation.   By exporting Ariel PODS in many European countries, this greenfield investment is strengthening Romania as a production hub for P&G. Over 200 new jobs will be created while the new plant will introduce modern manufacturing solutions in detergent ...

State aid for Sterk Plast for EUR 5m project

Wednesday, April 28, 2021

REI Finance Advisors, a company specialized in attracting non-reimbursable funds for Romanian companies, has successfully brokered 2,5 million euros in state aid for Sterk Plast, a plastic production company in Romania, part of a 5 million euro investment project.   The project aims to expand the production capacity of the Sterk Plast factory in Medgidia, with a total value of 5 million euros, while the state aid, obtained under the state aid Scheme ...

Optim PM wins project management contract with Continental Automotive Serbia

Wednesday, April 28, 2021

Optim Project Management has been appointed to project manage the construction of a new Continental electronics assembly and manufacturing facility in Novi Sad. The facility will have a GBA of 29,500 sqm and will be built on a 30-ha plot of land. During this contact, Optim PM is providing Design Management, Procurement, Construction Project Management, Health & Safety Coordinator and Site Supervision services.   “Our ...

Allview raises EUR 3.1 mln in private placement and will list shares on BVB

Wednesday, April 28, 2021

Romanian company Visual Fan, which produces electronic devices such as smartphones, smart TVs, and smart home solutions under the Allview brand, raised RON 15.5 mln (EUR 3.1 mln) in a private placement of shares on Friday, April 23.   The placement, managed by local brokerage firm Tradeville, was over six times oversubscribed as investors placed orders worth RON 99.2 mln (EUR 20 mln). The minimum subscription was 1,100 shares or RON 121,000 (EUR ...

1,410 companies, sole traders in Romania file for insolvency in Q1 2021

Wednesday, April 28, 2021

The number of insolvent companies and sole traders in Romania increased by 6.82% in Q1 2021, y-o-y, to 1,410 insolvencies, according to data published on the website of the National Trade Register Office (ONRC).Most of the insolvent companies and sole traders were reported in Bucharest (297), up 112.14% from Q1 2020. Next in the insolvency rank are the counties of Cluj (130 insolvencies, up 94.03%), Bihor (108, down 20%), and Timis (75, down 3.85%).The least ...

Teraplast ups revenues by 28% in Q1

Wednesday, April 28, 2021

Romanian TeraPlast Group (TRP), which specializes in construction materials production, announced a 28% increase in turnover in the first quarter of this year, to RON 108 million (EUR 22.2 mln).   The EBITDA improved by 61% to RON 17.5 mln (EUR 3.57 mln), resulting in an EBITDA margin of 16.2%, up from 12.8% in the first quarter of 2020."To put this in perspective, this is compared to 2020, a year with record-breaking results for the group," stated Ioana Birta, the ...

Orange Romania's Q1 turnover up 2.5 pct to 264 ml euros

Wednesday, April 28, 2021

Mobile operator Orange Romania's Q1 turnover amounted to 264 million euros, up 2.5 percent compared to the same period of the previous year, the company said in a statement on Thursday.The constantly high need for connectivity among Orange customers in the first quarter of this year was the driver for a 30 percent increase in mobile data consumption in Q1 2021 compared to Q1 2020. The operator expanded its 4G connectivity coverage in Q1 to 56,000 people in another 143 rural ...

Dacia brand sales up 10.2 pct in Q1 2021

Wednesday, April 28, 2021

 French automaker and Dacia plant owner Renault reported today a 1.1 percent drop in Q1 revenues to 10 billion euros, despite a 1.1 percent increase in group global sales to 665,038 vehicles in the first three months of the year.The Renault brand sold 433,662 vehicles in the first quarter of 2021, up 1.3 percent from Q1 2020. In Europe, sales of electric and electrified versions of the Renault brand accounted for 23 percent of registrations. In regions outside Europe, ...

CRH Ciment Romania becomes ROMCIM

Wednesday, April 28, 2021

ROMCIM is announced as the new name for CRH’s cement, aggregates, and concrete business in Romania as of 5th May 2021.ROMCIM is an existing local brand, with more than 30 years history in the construction industry in Romania. The name change announced today is in keeping with CRH’s strategy to operate strong trusted local brands in each of its markets, supported by the capabilities and expertise of a leading global ...

GTS Telecom announces investments of 3 million euros for the development of data centers

Wednesday, April 21, 2021

GTS Telecom, one of the main IT&C service providers in Romania, will invest over 3 million euros in 2021 to consolidate its data centers and cloud platforms, and to diversify its portfolio with the latest technologies.   The investments announced by GTS Telecom, member of the Deutsche Telekom AG group, ...

PwC: Fewer but bigger M&A deals in Romania in Q1 2021

Wednesday, April 21, 2021

The number of deals on Romania's mergers and acquisitions (M&A) market contracted by 26% in the first quarter of this year compared to the same period in 2020, with only 42 transactions announced, compared to 53 in the same period last year.However, the value of the transactions increased to over EUR 600 million, according to a report released by PwC Romania's M&A department.   "The year 2021 began with the announcement of important transactions on the M&A ...

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