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Flanco Acquires Land For Store Construction

Wednesday, February 21, 2024

Flanco announced the acquisition of its first two real estate projects for new greenfield stores. They are located in commercial areas of Botosani and Brasov and were purchased in the last six months, each with an area of 5,000 square meters.   “Starting this year, we are also interested in real estate acquisitions, in order to build Flanco stores from scratch, adapted to our needs ...

Net profit of RON 232.26 million for Transilvania Investments in 2023

Wednesday, February 21, 2024

Transilvania Investments recorded at 31.12.2023 a net profit worth RON 232.26 million, according to the preliminary financial results, unaudited. The profit is 264.5% higher compared to the previous year, this being the best result achieved in the last 5 years.   The net income, totalling RON 279.16 million at the end of 2023, is 205.6% higher compared to the income afferent to the previous year. On 31 December 2023, the Company’s total assets are worth RON ...

Christian Tour, Green Light To Buy AnimaWings From Aegean Airline

Wednesday, February 21, 2024

Christian Tour, which launched its own airline in 2020, of which Greeks from Aegean Airlines took over 51% two years ago, has the green light from the Competition Council to take over the company, AnimaWings. Christian Tour Holding S.A. received the green light from the Competition Council for the acquisition of the majority stake of 51% in the company AnimaWings Aviation S.A. formerly owned by Aegean Airlines. Thus, the airline AnimaWings becomes ...

  The number of companies that have suspended their activity increased by more than 4% in 2023  

Wednesday, February 14, 2024

  The number of companies that suspended their activity in 2023 was 16,335, up 4.04% compared to the previous year, according to data published by the National Trade Registry Office (ONRC).   Most companies that suspended their activity were from Bucharest, namely 1,979 (up 13.61% compared to 2022), the capital being followed by Cluj county, with 1,057 suspended companies (up 30.17%), Iasi - 739 (up 7.41%), Brasov - 722 (up 2.27%) and ...

ONRC: 6,650 firms and PFAs went into insolvency in 2023  

Wednesday, February 14, 2024

The number of the companies and authorised natural persons (PFA) that went into insolvency last year was 6,650, up by only 0.02% against 2022, when there were 6,649 insolvencies registered, according to the data published on the site of the National Trade Registry Office (ONRC).Most companies and authorised natural persons getting into insolvency were registered in Bucharest, namely 1,289, up by 11.8% against the period January – ...

CITR: About 6,650 insolvent companies in 2023, as in 2022

Wednesday, February 14, 2024

The number of companies using insolvency procedures in 2023 remained the same as in 2022, that is 6,650, said CITR, the leader of the insolvency and restructuring market in Romania announced on Thursday in a press release. Of them, 89 are impact companies, with active stock of 1 million euros, cmpared to 67 the previous year.   As for the number of restructuring actions through preventive arrangement with creditors procedure, there were 90 applications ...

TeraPlast Group sees 5 pct drop in 2023 turnover, yet net profit remains in positive territory

Wednesday, February 14, 2024

 Teraplast Group's consolidated turnover in the financial year 2023 was RON 672 million, down 5 percent from the year before, mainly as an effect of the significant drop in the result of the Granules division. The net profit remained in positive territory, at RON 1.1 million, despite the year-end specific seasonality, the company said in a release on Monday.Exports accounted for 16 percent of the turnover, and TeraPlast Group products reached 22 countries in Europe, ...

Lowe Group Has New Chief Financial Officer

Wednesday, February 14, 2024

Lowe Group, the marketing and communication group, is strengthening its top management team by appointing Florina Varzariu as Chief Financial Officer. In her new role, Florina will oversee the financial, legal, and commercial teams, contributing to the development of strategic directions and identifying new growth opportunities for the group’s agencies.   “We are thrilled to strengthen our team and welcome ...

Mazars announces another year of record revenues as it builds global ambition

Wednesday, February 14, 2024

Third consecutive year of double-digit fee income growth achieved across all service lines. 13.3% year-on-year organic growth, demonstrating the resilience and adaptability Mazars has built through its integrated partnership model operating in over 100 countries and territories. Revenue contributions of 43% audit and 57% non-audit emphasise the balance and strength of the firm’s multidisciplinary ...

Sigma CVM Romania and SKY Agriculture Announce Strategic Partnership

Wednesday, February 14, 2024

Sigma CVM Romania, a leading provider of agricultural solutions, announces its partnership with SKY Agriculture, the dynamic French group undergoing a transformative evolution to shape the future of European agriculture.   Under the visionary leadership of Julien Burel, Group Chairman, SKY Agriculture has emerged as a key player in the industry. The group’s commitment to innovation and sustainability aligns seamlessly with Sigma CVM Romania’s mission to ...

Norofert announces the completion of the first stage of the laboratory for research of microorganisms

Wednesday, February 14, 2024

Norofert, the leader in regenerative agriculture research and one of the largest producers of inputs in Romania, listed on the Bucharest Stock Exchange, on the AeRO market, announces the completion of the first stage of the laboratory for research and multiplication of microorganisms for use in agriculture. The laboratory is located within the premises of the input factory in Filipestii de Padure, owned by the company, and is the only one of its kind in Romania.   This ...

Nearly 80,000 Romanians are using the new Avansis Online platform to pay their taxes and fees and to issue documents

Wednesday, February 14, 2024

Via the latest version of Avansis Online, Romanian taxpayers can conduct online payments for 4 types of public services, including taxes and duties, fines, as well as fees for a variety of services provided by 36 institutions and authorities.   Moreover, users can independently submit, view, and issue documents in a digital format, with automatic notifications updating them on the status of their ...

Over 7,000 foreign companies established in Romania in 2023

Wednesday, February 7, 2024

The number of companies with foreign capital newly established in Romania decreased last year by 4.86%, compared to 2022, to 7,010 units, according to data centralized by the National Trade Register Office (ONRC).   The more than 7,000 new companies had a subscribed capital in the total amount of 125.66 million dollars, increasing almost three times compared to the subscribed capital of companies registered in the period January-December 2022, of 45.56 ...

Competition Council scrutinising Grampet Logistics takeover of Electromontaj Carpati

Wednesday, February 7, 2024

 The Trade Competition Council is scrutinising the transaction by which Grampet Logistics SRL intends to take over Electromontaj CarpaTi SA, the competition authority announced on Monday.Grampet Logistics SRL is a provider of transport solutions in Europe and Asia that integrates different modes of transport and auxiliary services in the logistics chain, offering costumised services. The company is a member of the Grampet Group operating mainly in cargo transport, ...

TeraPlast acquires Wolfgang Freiler Group for 16.5 million euros

Wednesday, February 7, 2024

The TeraPast Group signed the agreement for the acquisition of the Wolfgang Freiler Group from the Uhl family of Austria, a transaction worth 16.53 million euros."Following the completion of the negotiations, the agreement was signed for the acquisition of the Wolfgang Freiler Group from the Uhl family in Austria, who owns modern production facilities in Hungary and a dynamic distribution division in several markets in Central and Western Europe. The transaction price is ...

ROCA Industry Increases The Share Capital To 248.7 Million RON

Wednesday, February 7, 2024

ROCA Industry, the first industrial holding of construction materials in Romania, listed under the symbol ROC1 on the AeRO Premium market of the Bucharest Stock Exchange (BVB), owned by ROCA Investments, announces the completion of the second stage of the share capital increase (private placement stage). Held between January 16 and 30, 2024, a number of 6,245,777 new shares were subscribed during this stage, with a total value of RON 62.5 million.   In ...

DRS-Architects: 3.5 million RON turnover in 2023, a 50% increase yoy

Wednesday, February 7, 2024

DRS-Architects, an architecture firm specialized in designing large-scale shopping centers and residential complexes, announces a turnover of 3.5 million lei (700,000 euros), marking an increase of over 50% compared to 2022. The positive evolution can be attributed to the expansion of the services portfolio and the contracting of complex projects that combined the commercial and residential segments. Another milestone for 2023 was entering the HORECA segment with the design of the first ...

Redport Capital announces over 100 milion Lei turnover in 2023

Wednesday, February 7, 2024

Redport Group, founded in 2016 by Cosmin Savu-Cristescu, announces a turnover of over 100 million Lei for the year 2023. Over the past few years, the company has secured a land portfolio of over 6 hectares in the Petrom City – Str?ulesti – D?m?roaia area. Within the projects The Level Apartments and Infinity Nord, Redport Capital will develop over 2000 apartments and 15000 square meters of commercial spaces. The total sales value (GDV) exceeds 350 ...

Luca Tagliaretti appointed executive director of the European Cybersecurity Centre in Romania

Wednesday, February 7, 2024

Luca Tagliaretti is the new head of the European Cybersecurity Competence Centre (ECCC). Romania won the bid to host the European agency in December 2020. The hiring process for the new executive director started nearly two and a half years ago.   “I am confident that the ECCC has a key role to play in the European cybersecurity landscape, and I look forward to working with exceptional colleagues,” the new head of the ...

Alstom signs €150 million contract to supply 16 electric locomotives and 20 years of maintenance in Romania

Wednesday, February 7, 2024

Traxx locomotives to be delivered to Romanian Railway Reform Authority (ARF), along with 20 years of maintenance and repair services, extendable by further 20 years Total value of the contract for rolling stock and services comes to around €150 million Contract builds on relationship spanning 30 years of presence in Romania   Alstom, global leader in ...

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