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Renault's Q1 revenues down 19 pct, Dacia registrations plunge 40.1 pct

Wednesday, April 29, 2020

French automaker Renault posted on Thursday a 19.2 percent plunge in first quarter revenue to 10.125 billion euros and said it is still too early to assess the impact the coronavirus pandemic will have on the group's results this year, Reuters reports.The Dacia plant owner, which has already scrapped the payment of dividends for 2019 as well as its targets for 2020, was severely affected by the health crisis that has prompted a collapse of demand for cars and the ...

Michelin Romania resumes production at the tire plant in Zalau

Wednesday, April 29, 2020

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After Dacia, another automotive plant is resuming activity in Romania. French group Michelin has announced that they had resumed activity in their second plant in Romania, the tire ...

TeraPlast Group posts 20% increase in revenue in Q1-2020

Wednesday, April 29, 2020

TeraPlast Group, the Romanian construction materials manufacturer, registered a 32% growth in EBITDA in Q1-2020 versus Q1-2019, up to RON 17,4 million, despite the outbreak of the coronavirus crisis in March. The Group’s turnover rose by 20% in the same period, up to RON 208,9 million. TeraPlast SA and TeraSteel Serbia were the main drivers of growth. „Our Group implemented extensive investment projects in 2019, worth almost RON 100 ...

Holde Agri Invest buys Romanian firm operating farmland in Calarasi

Wednesday, April 29, 2020

Holde Agri Invest SA, a Romanian farmland operator announces it has signed an agreement for the acquisition of Agromixt Buciumeni, a Romanian company established in 1991 that operates farmland in the Calarasi county. The transaction will result in Holde Agri Invest operating over 7,000 hectares of land. The acquisition of Agromixt Buciumeni represents a strategic investment for Holde Agri Invest, which will list in the coming months on the AeRO market ...

500 ml lei available for local administrations, SMEs under 2014 - 2020 Regional Operational Programme

Wednesday, April 29, 2020

 Development and Administration Ministry announces the signing of 24 investment contracts financed under the 2014 - 2020 Regional Operational Programme; 17 contracts refer to projects that will be initiated in several Romanian administrative-territorial units and 7 are intended for small and medium-sized enterprises."An amount of 490,562,950 lei will be invested in projects consisting of integrated sustainable transport systems, public transport ...

Bittnet Group enters the E-Commerce market, launches IT&C Solutions Online Store

Wednesday, April 29, 2020

Romanian Company Dendrio Solutions, an IT&C integrator that is part of Bittnet Group, enters the e-commerce market as it launches Dendrio Shop – an online platform where companies can purchase software, licenses, IT solution, and hardware. The product offer of Dendrio Store particularly targets the SME segment, providing them with tailored solutions and a dedicated sales channel where their orders can be handled with priority. In the current context of the COVID-19 ...

CME's OIBDA from Romanian operations falls 14% in Q1

Wednesday, April 29, 2020

Central European Media Enterprises (CME) said on Wednesday that its first-quarter operating income before depreciation and amortization (OIBDA) from business in Romania fell by 14% year-on-year at actual rates to $15.06 million (13.9 million euro). Net revenues from operations in Romania increased 1.8% on the year in the January-March period to $39.5 million, the international broadcaster said in an interim financial ...

80% of Romanian firms will still hike wages this year

Wednesday, April 29, 2020

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 About 60% of the 160 companies polled by Mercer Marsh Benefits in Romania have already increased wages based on targets agreed for this year, or are about to implement increases. Another quarter of them, which had decided to raise wages later in the year, are waiting for the economic ...

Danish Rockwool Group’s operations in Romania, “moderately affected” by COVID-19 crisis

Wednesday, April 29, 2020

Danish Rockwool Group, a world leader in basaltic mineral wool production, does not plan to stop its activity in Romania amid the COVID-19 crisis. "We expect the evolution of the second quarter to be weaker, in line with the lower activity of our local partners," the group's representatives said, however. The company's activity will be resized in some parts of the factory, according to Florin Popescu, the business unit director of Rockwool ...

Competition Council authorized for  Alvogen take over by Al Sirona

Wednesday, April 22, 2020

The Competition Council authorized the transaction by which Al Sirona intends to take over Alvogen CEE Kft company. The operation does not have significant obstacles in effective competition in the Romanian market and there is no serious doubt about its compatibility with a normal competition environment. The decision will be published on the website of the national competition authority after eliminating confidential data,” says the competition authority in a press release, on ...

Danish Rockwool Group’s operations in Romania, “moderately affected”

Wednesday, April 22, 2020

Danish Rockwool Group, a world leader in basaltic mineral wool production, does not plan to stop its activity in Romania amid the COVID-19 crisis. "We expect the evolution of the second quarter to be weaker, in line with the lower activity of our local partners," the group's representatives said, however. The company's activity will be resized in some parts of the factory, according to Florin Popescu, the business unit director of Rockwool Balkans, ...

McKinsey Report: Quarter of Europe’s jobs at risk from coronavirus crisis

Wednesday, April 22, 2020

* Unemployment could almost double in the coming months, McKinsey predicts. More than a quarter of all jobs in Europe could be impacted by the economic fallout of the coronavirus pandemic, according to an analysis from McKinsey quoted by politico.eu. The consultancy estimated that up to 59 million jobs are at risk of things like reduced working hours, temporary furloughs or permanent job losses. Unemployment could almost double in the coming months ...

Online sales continue to grow for EU enterprises

Wednesday, April 22, 2020

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Enterprises in the European Union (EU) are increasingly relying ...

Economic agents will see the shutdown rate increases from 9, 8 pct in March 2020 to 13.8 pct in April 2020

Wednesday, April 22, 2020

The share of economic agents that will see their activity reduced by more than 25 pct goes up from 33.3 pct in March 2020 to 45 pct in April 2020, and the shutdown rate increases from 9, 8 pct in March 2020 to 13.8 pct in April 2020, according to a research conducted by the National Institute of Statistics (INS). One of the aspects revealed by the ad-hoc statistical research carried out to evaluate the impact of the COVID-19 epidemic on the volume of economic activity is the high ...

Despite COVID-19 crisis, labour market sees increased demand in certain areas

Wednesday, April 22, 2020

While many areas of the labour market have been dramatically affected by the recent developments of the Coronavirus pandemic, with retail and HORECA suffering the most, as Business Review recently reported in an exclusive analysis, other areas not only ...

Farmasi rents 2.500 Sqm of warehouse at CTP Industrial Park

Wednesday, April 22, 2020

Dunwell Industrial Real-Estate agency in Romania, has brokered the transaction in which Farmasi, the Turkish producer and distributor of cosmetics and sanitary and cleaning products is leasing 2,500 sqm in CTPark Bucharest at km 13 on A1 Highway. The newly rented space will support the fast evolution of Farmasi’s sales at a local level, by streamlining the distribution. „In April 2019 we entered the Romanian market and our clients’ perceptiveness and also the sales ...

Coface Barometer Q1 2020 : COVID-19: heading towards a sudden global surge in business insolvencies

Wednesday, April 15, 2020

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At first, the COVID-19 epidemic in China only affected a limited number of value chains – but it has since turned into a global pandemic. Its repercussions have created a double shock – supply and demand – that is affecting a large number of industries in all over the world. The uniqueness of this crisis makes comparisons with the previous ones useless, as they all had financial origins (e.g. global credit crisis of 2008-09, great depression of 1929). The question is no ...

Michelin resumes progressively production in the Zalau factory

Wednesday, April 15, 2020

The tyre producer Michelin resumes progressively production in the metallic cord factory in Zalau, thetyre factory in the same locality and that in Floresti being closed for the moment.The company stopped production in all three factories in Romania at the end of March, more exactly on 28th March for the cord factory. ‘Starting with 8th April, the production activity in Zalau Cord is resumed progressively.The sanitary measures were ...

Competition Council: Pharmaceutical companies allowed to cooperate so as to prevent disruptions in medicines supply

Wednesday, April 15, 2020

The Competition Council gets in line with the European Commission's current policy of relaxation of the competition rules for pharmaceutical companies, the Competition watchdog said in a Monday release.According to the cited source, the European Commission has published a Temporary Framework Communication allowing agreements and exchanges of information between pharmaceutical companies in order to prevent disruptions in the supply of medicines essential in ...

Wizz Air announced 19% workforce reduction

Wednesday, April 15, 2020

Wizz Air has announced in a press release on Tuesday that,  “despite its best efforts, the company is taking the difficult step to make 1,000 positions redundant, representing a 19% workforce reduction”. Additional employee furlough measures have also been and will be taken in the short term as necessitated by the travel restrictions due the COVID-19 pandemic. It is also announced today that for the whole year of F21, the remuneration ...

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