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Business forum 'Romania-Italy, restoring investor confidence in the Romanian economy'

Wednesday, March 13, 2019

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The Bucharest Chamber of Commerce and Industry (CCIB) could set up representative offices in the European countries with a strong Romanian community, such as Italy, CCIB Chairman Sorin Dimitriu said on Thursday at the business forum 'Romania-Italy, restoring investor confidence in the Romanian economy'."Today's event is part of a partnership strategy aimed at presenting the attractiveness of the Romanian business environment. There is something specific about the ...

Aerostar becomes a component supplier for the Patriot missile manufacturer

Wednesday, March 6, 2019

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Raytheon Company has issued a purchase order to Aerostar for work on the Patriot® Air and Missile Defense System. This makes Aerostar a member of Raytheon’s global supply chain and with potential opportunity to export and sell to the 15 other ...

15,640 business entities registered in Romania in Jan. 2019

Wednesday, March 6, 2019

The number of business entities, natural and legal persons combined, registered in Romania in January 2019 increased by 58.33pct, y-o-y, to 15,640, of which 83pct were limited liabilities, according to the data centralised by the National Institute of Statistics (INS).Most of the registrations were done in Bucharest City - respectively 1,397 (down 3.99pct y-o-y) and in the counties of Timis - 807 (up 88.55pct), Iasi - 679 (up 104.52pct) and Prahova - 649 (up 99.6pct). At the ...

EY : 70 percent of companies expect partial business sale in the next 12 months

Wednesday, March 6, 2019

Selling businesses seems to be one of the top choices of this period according to EY’s Global Corporate Divestment 2019 study. 84 percent of companies are planning partial business sales by 2021, up from 43 percent two years ago, while 81 percent say optimizing operational models will have a noticeable impact on sales plans over the next 12 months and 70 percent expect sales of high impact assets on the business, rising from 50 percent in 2018. Companies are planning partial ...

Carrefour Romania posts record sales for 2018

Wednesday, March 6, 2019

French retailer Carrefour, the operator of Europe’s largest hypermarket chain, obtained revenues in 2018 that were 6 percent higher than in the previous year, reaching a new record value of almost EUR 1.9 billion, according to profit.ro. Carrefour’s local store network grew  by almost 40 units last year, having reached a total of 360, of which 35 are hypermarkets, 261 are supermarkets, 51 ...

Business dissolutions down 18.91 pct this January

Wednesday, March 6, 2019

Business dissolutions were 18.91 pct down this January from the same month of the year before, standing at 2,505 compared to 3,089 in 2018, shows data centralized by the National Trade Register Office (ONRC).Bucharest tops the list with most company dissolutions - 432 (by 17.4 pct less compared to January 2018), followed by the counties of Constanta - 136 (- 6.21 pct), Cluj - 118 (- 6.35 pct) and Timis - 99 (- 27.74% pct). The counties with the least number of dissolutions are ...

Impact recorded a net profit of RON 20.7 million in 2018, down by 60 percent

Wednesday, March 6, 2019

IMPACT Developer & Contractor ended the year 2018 with an operating income of RON 101.8 million from the sale of apartments, parking lots, land and houses. Of the total number of dwellings traded, the bulk (228 apartments) was sold at Greenfield Baneasa. The net profit was RON 20.7 million, down 60 percent compared to 2017, and most of it was made in the last quarter of the year.  In addition to the purchase contracts reflected in the financial reporting, last year, 197 sale ...

Postal Office requests insolvency of its own insurance broker

Wednesday, March 6, 2019

The Romanian Postal office has requested the insolvency of PRBA, the national postal operator’s insurance broker. The company’s representatives made this decision as a result of analyzing the legal debt recovery options that PRBA had to register with the company. The broker has registered losses of RON 4 million in the last five years and receivables of RON 2 million. In October 2014, the Romanian Post launched its own insurance broker, willing to implement innovative ...

German company Mennekes enters Romanian market

Wednesday, March 6, 2019

German industrial electrical products manufacturer Mennekes has entered the Romanian market with a firm that will serve the auto industry, according to Profit.ro quoted by http://business-review.eu. Mennekes has annual revenues of over EUR 100 million and operates in around 90 countries. The company was ...

Cefin Trucks posted EUR 40 M turnover in 2018

Wednesday, March 6, 2019

Cefin Trucks, the only importer and distributor of Ford Trucks in Romania, announces that it has become a leader in the construction vehicles market as well as the municipal vehicles segment, due to the results achieved in 2018. The stake for 2019 is a significant increase of its market share and of the segment of tractor heads for international transport, which represents over 75% of the total sales on the Romanian market. The main attraction in Cefin Trucks portfolio is the new F-MAX, ...

PwC Report: Romania's M&A market down 12 pct in 2018 to 5 bln euro

Wednesday, March 6, 2019

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The worth of Romania's M&A market was 5 billion euro in 2018, down 12 pct year-on-year, shows the PwC Romanian M&A Outlook report presented on Wednesday at a specialist conference.According to the document, the decline recorded in comparison to 2017 was in line with the evolution of the Central and Eastern European market.In terms of volumes, the more than 170 transactions registered last year in Romania stood at an aggregate of about 5 billion euro; the ...

Ericsson to take over two Kathrein plants in Timisoara

Wednesday, March 6, 2019

The Swedish telecom company Ericsson is to take over the antenna and filter business in Timisoara from Kathrein company, two plants in Timisoara, with over 2,000 employees. The announcement was made public in Barcelona, where the MWC fair is taking place. The takeover includes over 4,000 employees in 20 locations in Germany, Romania, the United States, Mexico and China, capital.ro reports. Timisoara Mayor Nicolae Robu has sent a message on Facebook announcing to the ...

Business, the biggest legal persons in insolvency worth 5.18 billion lei in 2018

Wednesday, February 27, 2019

Over 18,400 employees were affected by the insolvency procedures included in 2018 with big entitites, and the total turnover of the 200 legal persons in this procedure goes up to 5.18 billion lei, stated Stan Tirnoveanu, prime-vice-chairman of the National Union of Practitioners in Insolvency (UNPIR).‘The data of the Register of Commerce show that in 2018 there were in insolvency 8,304 professionals, against 9,100. As number we are ok, as an effect we shall ...

Tim Hoffmeister to become CEO of Implico Group: Focus lies on strategic development

Wednesday, February 27, 2019

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 Tim Hoffmeister takes over the newly created position of Chief Executive Officer (CEO) of Implico Group. In addition to managing the finance and controlling department, he is now also responsible for the administration and human resources divisions. Tim Hoffmeister joined the software and consulting company, which specializes in the downstream oil and gas industry, as Chief Financial Officer (CFO) in September 2018. Since then, he and his fellow ...

Number of insolvencies down 33.6 pct in January 2019; suspensions, dissolutions down 32.69 pct

Wednesday, February 27, 2019

The number of companies and individuals facing insolvency dropped by 33.6 per cent in January 2019 compared to the same period of the previous year, down to 500 insolvencies, according to data released by the National Trade Register Office (ONRC).Most companies and individuals in insolvency were recorded in Bucharest, namely 95, down 42.07 per cent compared with the same period in 2018. Coming next are the Bihor County - with 48 insolvencies (-29.41 per cent), ...

Zitec posted EUR 6 M revenues in 2018, up by 22 pc as against 2017

Wednesday, February 27, 2019

Zitec, IT leader in Romania, specialized in developing customized software solutions and services, has concluded 2018 with revenues of over EUR 6 million, up by 22% as the previous year. For 2019, the company plans to develop the recent partnerships in the RPA (robotic process automation) and IoT (Internet of Things) sectors, to increase its activity on the UK and US markets and to launch Mirro.io, a new Zitecproduct, in the first half of the ...

Orbis Group announces positive results in Romania

Wednesday, February 27, 2019

2018 has been another record year in terms of all Orbis strategic goals: financial performance, portfolio development and talents engagement, the Group has announced on Monday quoted by romaniajournal.ro. At the end of 2018, Accor announced a tender offer on Orbis shares aiming on replicating active asset management strategy implemented by Accor for several years. Eventually Accor strengthened its position in the company’s shareholding up to ...

Bittnet Group triples net profit in 2018, reaching RON 4.88 M

Wednesday, February 27, 2019

On February 22nd, Bittnet (BNET) has published the Group’s preliminary financial results for fiscal year 2018. The economic cycle and the capital markets were favorable to Bittnet as the Group has registered consolidated revenues of RON 54 million, an increase of ...

Some 7,250 companies are today alive, working, making profit due to Start-Up Nation program

Wednesday, February 27, 2019

A number of 7,250 companies are today alive, working and making profit for both the entrepreneur and the Romanian economy following the launch of the Government's Start-Up Nation program, the Minister for the Business Environment, Trade and Entrepreneurship, Radu Stefan Oprea, told a press briefing held together with the Director General of the World Trade Organization, Roberto Azevedo."Start-Up Nation is a program that aims to create 10,000 new companies each ...

No-deal Brexit scenarios in Romania: tariffs could hit exports to the UK, restrictions to business travels

Wednesday, February 27, 2019

The Romanian Ministry for Business Environment has presented to the local entrepreneurs some of the scenarios in case of a no-deal Brexit next month, indicating that tariffs could hit exports to the United Kingdom, while restrictions to business travels should be considered, http://business-review.eu informs. The withdrawal of the UK from the European Union without agreement will mean returning to the provisions ...

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