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ECO EURO DOORS acquires 70% of the share capital of Workshop Doors
Wednesday, August 23, 2023
The construction materials holding company ROCA Industry announces the signing of the purchase contract by which ECO EURO DOORS, a Romanian manufacturer of doors for residential constructions, acquires 70% of the share capital of Workshop Doors. The transaction is subject to the approval of the Competition Council. Workshop Doors is a company active since 2009 on the interior door market, with two production facilities, in Reghin and ...
Safetech Innovations records 13.5 million lei turnover and 3.9 million lei net profit in H1 2023
Wednesday, August 23, 2023
Safetech Innovations (BVB: SAFE), a Romanian cybersecurity company listed on the Bucharest Stock Exchange with offices in Bucharest, London, and Abu Dhabi, reports, at the individual level, a turnover of 13.5 million lei, a 26% increase compared to the same period last year, and a net profit of 3.9 million lei, a 49% appreciation compared to the first six months of 2022. At the consolidated level, including the UK entity’s results, the company recorded a turnover of ...
Aluminium producer Alro swings to loss in H1
Wednesday, August 16, 2023
Romanian aluminium producer Alro Group [BSE:ALR] said on Wednesday that it closed the first six months of 2023 with a net loss of 164 million lei ($36.4 million/33.1 million euro), after reporting a net profit of 15.3 million lei for the like period of last year. Alro's turnover decreased to 1.55 billion lei in the review period, from 2.1 billion lei during January-June 2022, the company said in a press ...
Damen announced that it remains in Romania, Even If It Has Withdrawn From Mangalia
Wednesday, August 16, 2023
Damen Holding BV announced on Friday that it will remain in Romania and continue its activity in Galati, even ...
Aerostar reports net profit down 4 pct in H1 2023
Wednesday, August 16, 2023
Aerostar reported, in the first six months, a net profit of 46.825 million RON, down 4 pct compared to the similar period in 2022, when it recorded a profit of 48.829 million RON, according to a company release submitted on Friday to the Stock Exchange Bucharest Stock Exchange (BVB).According to the source, in the first semester the company recorded a turnover of 245.426 million RON, a 22 pct increase compared to the same period last year when it reported a ...
ROCA Agri RDF to launch agriculture funding instrument
Wednesday, August 16, 2023
Continuing its long-term vision and sustainable development strategy, ROCA Agri RDF, the agricultural holding launched by ROCA Investments, is set to support farmers by preparing the launch of a Non-Banking Financial Institution ...
Conpet posts H1 net profit of 29.48 ml RON
Wednesday, August 16, 2023
State-owned oil pipeline operator Conpet made a net profit of 29.48 million RON in H1 2023, 7.26 million RON above the budgeted amount, but 4.63 million RON below the figure recorded in the same period of 2022, shows the financial report sent to the Bucharest Stock Exchange on Thursday.The company's turnover was 241.20 million RON, up 3.4 percent year-over-year and 1.1 percent less than the budget provisions.As of June 30, 2023, operating ...
Analysis: Thousands Of Romanian Companies Were Dissolved In 2023
Wednesday, August 16, 2023
The number of dissolved Romanian companies reached, in the first six months of 2023, a record high of the last 15 years, of 19,442 businesses, according to an analysis. The number of companies in difficulty, in the stages of insolvency, delisting, suspension of activity or dissolved, exceeded 64,000, also a record of the last 4 years, according to an analysis by the consulting company Sierra ...
WizzAir: January-July 2023, 99.12% of flights from Romania were successfully operated
Wednesday, August 9, 2023
WizzAir is actively making efforts to reduce unpredictable delays and cancellations, which could disrupt passengers' travel plans, officials of the airline reported on Tuesday, saying that between January and July 2023, 99.12% of flights from Romania were successfully operated."WizzAir is actively collaborating with the Romanian authorities. WizzAir is dedicated to maintaining the highest level of customer satisfaction. As a result of unforeseen disruptions ...
Liberty Steel Galati orders new MULPIC system for heavy plate mill line in Romania
Wednesday, August 9, 2023
In April 2023, Primetals Technologies received an order from Liberty Galati for a new Multi-Purpose Interrupted Cooling (MULPIC) system and a water treatment plant that will be implemented at its heavy plate mill line in Romania, https://www.benzinga.com/ reads. The technology provides an in-line plate cooling ...
Authorities approve sale of HS Timber's Sebes sawmill to Ziegler Group
Wednesday, August 9, 2023
The sale of the HS Timber Productions Sebes SRL site to the German Ziegler Group, announced on 18 April, has been approved by the relevant authorities, https://www.lesprom.com/ informs. With the closing of the transaction yesterday, the sale of shares has been successfully completed. The parties have agreed not to disclose the purchase price. The Ziegler Group will ...
As many as 3,493 foreign capital start-ups registered in Romania in H1 2023
Wednesday, August 9, 2023
The number of start-ups running on foreign capital in Romania increased by 0.5 percent over the first six months of 2023 from the year-ago period, to 3,493, shows data with the National Trade Registry Office (ONRC).The 3,493 new companies had a paid-up share capital of 21.277 million US dollars, by 5.1 percent higher than the 20.242 million US dollars of the businesses incorporated over January - June 2022.As of end-June 2023 there were 247,708 ...
RTPR advises Romcim on the acquisition of Bauelemente, with Schoenherr advising on merger clearance and FDI
Wednesday, August 9, 2023
RTPR has assisted Romcim S.A. in relation to the acquisition of Bauelemente Reinvest S.R.L. and its fully owned subsidiary, Bauelemente S.R.L., the market leader manufacturer of prefabricated reinforced and prestressed concrete in ...
Competition Council analyzes takeover of Cora stores by Carrefour
Wednesday, August 9, 2023
The Competition Council analyzes the transacion by which Carrefour Group intends to take over Romania Hypermarche SA, a company operating in Romania “Cora” Hypermarket chain and proximity and proximity stores Cora Urban,”a press release points out. The transaction was initially analyzed by the European Commission, since companies with activities in many countries and for the fact that ...
Ludus sugar factory will start production again in October
Wednesday, August 9, 2023
Stefan Radu Oprea, the Minister of Economy, Entrepreneurship and Tourism, announced on Friday, in Targu Mures, that Ludus Sugar Factory had already contracted half of the sygar beet output it needs. He said he was confident that as of October, sugar would be obtained again in Ludus from sugar beet produced in Romania. The minister showed that Ludus Factory has “a very good management plan”, ...
EconMin Oprea: Azomures - an industrial capacity that can bring added value to Romanian gas
Wednesday, August 9, 2023
Minister of Economy, Entrepreneurship and Tourism Stefan-Radu Oprea met on Friday with the management of fertilizer producer Azomures, in the light of plans to start procedures for developing Neptun Deep, the largest natural gas project in the Romanian Black Sea."I stopped for a meeting at Azomures, because you all saw the announcement made by Romgaz and OMV, regarding the start of Neptun Deep procedures, as they signed the contract with a renowned Italian ...
Company dissolutions up by more than 18 pct in the first half of the year
Wednesday, August 9, 2023
The number of dissolved companies increased by 18.21% in the first six months of 2023, to 19,442, compared to 16,447 in the same period in 2022, according to data centralized by the National Companies Registry Office (ONRC).Most dissolutions were recorded in Bucharest, namely 4,119 firms (up 33.82% compared to the first six months of 2022).The field of activity that recorded the most firm dissolutions in the first five months of this year is wholesale ...
Competition authority approves transaction by which Romcim takes over Bauelemente Reinvest
Wednesday, August 9, 2023
The transaction by which the cement, concrete and other construction materials producer Romcim S.A. takes over Bauelemente Reinvest SRL and its subsidiary Bauelemente SRL was approved by the Competition Council."Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts regarding its compatibility ...
Over 33,800 companies stricken off in Romania in H1 2023
Wednesday, August 9, 2023
As many as 33,895 companies were stricken off in Romania in H1 2023 , down 4.31% y-o-y, according to statistics with the National Companies Registry Office ( ONRC).Most strike-offs were recorded in the city of Bucharest - 5,365 (down 4.32% y-o-y) and in the counties of Cluj -1,666 (up 6.52%), Timis - 1,534 (down 4.42%) and Constanta - 1,523 (down 3.85%).The fewest strike-offs were reported in the counties of Ialomita - 202 (down 31.53%, y-o-y), ...
Jimmy Key opens the first store in Romania
Wednesday, August 9, 2023
The Romanian retail market continues to attract new brands, thus the Jimmy Key company from Turkey, with over 30 years of experience in womenswear, will open the first store in Romania within the ParkLake Shopping Center in Bucharest, developed by Sonae Sierra. Jimmy Key has leased a space in the project through a transaction brokered by the real estate consultancy company Cushman & Wakefield ...