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Weidmüller takes over LC Electronic in Lugoj

Wednesday, April 17, 2019

Weidmüller, a German group that had a turnover of EUR 823 million in 2018 and a total of 4,900 employees at a global level, has taken over LC Electronic in Lugoj, Timis County, founded by Ioan and Vasile Covaci in 1994, according to profit.ro. LC Electronic manufactures electronic modules and had 130 employees and RON 7.4 million in turnover in 2017. Weidmüller, which was ...

Reynaers Aluminum Romania estimates a 10 percent growth in 2019 for the aluminum joinery market

Wednesday, April 17, 2019

Reynaers Aluminum Romania, part of the European leader in the aluminum sector for the construction sector, estimates a growth of the aluminum joinery market between 5 percent and 10 percent in 2019. At the same time, representatives of Reynaers Romania expect the same percentage growth for the company’s turnover this year. “Trends show that the market has matured, so both our industry and our business are evolving organically, as expected. ...

AROBS Transilvania Software buys HR software provider UCMS Group Romania

Wednesday, April 17, 2019

AROBS Transilvania Software, a specialized provider of outsourced business solutions based in Romania, signed an agreement to acquire human resources management business, UCMS Romania from TMF Group. The company didn’t release the value of the transaction. “We are delighted to be adding two recognized HR products to our offering, adding expertise, cementing growth and providing even better services and products for our clients. We look ...

SVN opens office in Romania, targets top 5 real estate consultants in 2020

Wednesday, April 17, 2019

SVN International Corp, one of the most noted real estate commercial brands in the US, has opened a local office of real estate consultancy to operate under the name of SVN Romania and targeting that in 2020 be in the top 5 real estate consultancy companies in Romania, a company's release reads.The activity of SVN Romania will be coordinated by Andrei Sarbu (CEO) and Ionut Nicolescu (Partner), two consultants counting for over 12 years in real estate and ...

Deloitte: M&A market declines in Q1 2019

Wednesday, April 10, 2019

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The Romanian mergers and acquisitions market declined considerably in the first quarter of this year compared to the same period in 2018, when the total value of the market ranged between 200 and 300 million euro, including the transactions that did not have a reported value, according to Deloitte estimates.Based on public sources, the transactions whose value was released amounted to 120 million euro.The number of transactions monitored in the first ...

Flanco’s presence in Romania reaches 100 cities

Wednesday, April 10, 2019

Flanco Retail inaugurated its first store in Odobesti, Vrancea County on Friday, reaching a network of 139 stores located in 100 cities across the country. “With a total area of 116 square meters, the Odobesti shop and its four employees welcomed their first customers with special offers, electro-IT products and state-of-the-art technologies, as well as all the services provided by Flanco at national level – advantageous financing ...

SoftOne posted 35pc increase in turnover last year

Wednesday, April 10, 2019

SoftOne Technologies, Cloud ERP provider and a member of Olympia Group has ended 2018 recording a solid 35% increase in turnover, maintaining the steep growth pace for a third consecutive year, with its Cloud and Mobile solutions accounting for more than 55% of this increase. SoftOne Romania operates a fast-growing network of +40 partners – spreading in 35 counties – providing integrated services to small, midsize and large organizations ...

Falconeri to open first store in Romania

Wednesday, April 10, 2019

Falconeri, the luxury Italian brand specialised in knitwear products, is opening its first store in Romania. The store will be located in Baneasa Shopping City in Bucharest following an investment of EUR 180,000. The opening is scheduled in mid-April.For the first year, the representatives of the brand estimate sales of around EUR 900,000, with an average shopping cart of EUR 250-300. Falconeri is brought in Romania by Futura Lenjerie, a company ...

Mangalia shipyard to build luxury cruise ships and high-capacity boats in the coming period

Wednesday, April 10, 2019

Luxury cruise ships, high capacity boats for oil and sea transport ships will be built in the coming period by the Damen Shipyard in Mangalia. According to a joint press release sent by Damen and the Ministry of Economy, the new major contracts, recently signed, are focused on all three sectors of activity of the Mangalia shipyard: cruise ships, passenger ships and offshore vessels, and attracting new major contracts will make the yard to operate at ...

SWAZM Launches Fastest and Most Scalable Decentralized Infrastructure on the Market

Wednesday, April 10, 2019

Blockchain startup SWAZM has launched an innovative decentralized architecture tailor-made to enable the horizontal scaling of distributed applications (DApps) into mainstream usage. The SWAZM team has developed ...

European Investment Fund provides 170m euros for SMEs, students in Romania

Wednesday, April 10, 2019

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The European Investment Fund (EIF) signed on Wednesday four financing agreements in Romania, extending more than 170 million euros to Romania for the development of small and medium-sized enterprises and to credit students who want to continue their studies abroad.EIF and the non-bank financial institution FINS signed a first 4.5 million-euro agreement under the Erasmus+ Master Loan Guarantee Facility in Romania that will allow FINS to credit students who wish to ...

Dedeman opens first private equity fund with all-Romanian capital to help SMEs develop

Wednesday, April 10, 2019

Dedeman, the strongest entrepreneurial business in Romania, will open a private equity fund that will target small and medium-sized enterprises (SMEs) in Romania, according to Ziarul ...

Posta Romana extends Track & Trace service for internal postal parcels to individual customers

Wednesday, April 10, 2019

Posta Romana (Romanian Postal Office - CNPR) announces the introduction of Track & Trace tracking service for internal postal parcels in the services provided by individual customers. By introducing this facility CNPR is eliminating the manual filling by the clients or individuals of the forms preceding the filing of the internal postal parcels at the computerized post offices and also senders can track their status on the www.posta-romana.ro ...

TAROM company denies information referring to merger with Blue Air

Wednesday, April 3, 2019

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TAROM national air operator denies information appeared in the press that it would merge with Blue Air or any other air company. “Following the information appeared in the press lately, that TAROM Company is preparing a merger with Blue Air, TAROM mentions: As we said every time, the National Company of Romanian Air Transports is and will remain a national company and denies the merger with Blur Air or any other air company. The connection ...

TeraPlast launches TeraPlast Recycling for PVC waste management

Wednesday, April 3, 2019

TeraPlast Group, the largest Romanian privately-held construction materials manufacturer, announces TeraPlast Recycling, a company specialized in recycling, following the detachment of TeraPlast SA’s recycling business line. This step resulted from the need to see recycling as an independent business, which the Group plans to develop further. „In Europe, the recycled rigid PVC market in 2018 reached 480.000 tonnes, although only a maximum ...

Lufthansa Group has new General Sales Manager for Romania

Wednesday, April 3, 2019

Lufthansa Group appointed Zlatko Zlatic as their newly General Manager Sales Romania and Moldova starting March. He will be based in Bucharest, handling all the commercial and sales activities of the Lufthansa Group Airlines in Romania and Moldova. Zlatko Zlatic, aged 52, brings a wealth of knowledge to his new position from his many years of airline management experience. With a diploma in Economics, Zlatic started his career at the Lufthansa Group in ...

Euler Hermes posts highest earnings in 10 years

Wednesday, April 3, 2019

Euler Hermes accomplished very strong results in 2018, with revenues rising 7% to EUR 2,705 million and volume-driven growth spread across most regions. Operating profit increased by 17% to EUR 431 million, due to a combination of revenues growth, higher service margins, and a lower net combined ratio. The last, which stands at 77.9%, is decreasing (-3.3%-p) thanks to higher claims run off and a lower expense ratio. Net income increased by 8% to EUR ...

Zentiva Group announces acquisition of UK based Creo Pharmaceuticals

Wednesday, April 3, 2019

Zentiva Group announces the acquisition of Creo Pharmaceuticals Ltd, a UK based company, a subsidiary of Amneal Pharmaceuticals. “We are excited to announce the acquisition of Creo Pharma, which will strengthen Zentiva’s position in the UK. The decision reflects confidence in this market and our firm commitment to the development, production and distribution of affordable, high-quality medicines. We welcome Creo Pharma team and its solid ...

Globant opens development centre in Cluj-Napoca

Wednesday, April 3, 2019

Globant, a company specialised in digital services and headquartered in Argentina, has announced the opening of a new development centre in Cluj-Napoca, where it will expand its digital and cognitive expertise to serve its portfolio of global clients. Globant was established in 2003 and has 40 development centres in 32 cities across 14 countries, and employs over 9,000 people. Its main activity centres around the digital and cognitive transformation of ...

The Romanian entrepreneurs and the names of their own companies: Last Neuron SRL or Abyss SRL

Wednesday, April 3, 2019

The National Office of Trade Registry (ONRC) has registered many companies with weird names, which have been analysed by the KeysFin specialists. According to the information from ONRC, there are 22,000 companies with names that include the word ‘Trans’, then ‘Impex’ (17,702), Construct (17,582), Consulting (11,339), Group/Grup (10,443), Invest (9,210), Euro (7,322), Top (5,122), International (5,084) and Business ...

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