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Footwear manufacturer Rieker Romania stops activity in Lugoj factory

Wednesday, February 20, 2019


Footwear manufacturer Rieker Romania announce it would stop manufacturing at Lugoj factory, Timis county, because of high costs, lack of labour force and productivity drop. As a result, about 700 employees will lose their jobs. The labour market is very dynamic and competitive in Timis county and will be even more competitive, which means costs with labour force will grow, on the background of a fight to attract employees. We ...

Activity of Alexandria bearing factory restricted

Wednesday, February 20, 2019


The biggest private employer in Teleorman county, the bearing factory from Alexandria, will restrict its activity because of the lack of orders and problems faced by car manufacturers, at world level. Koyo Romania leaders decided that employees should go  on vacation every two days, for 3 months. According to the union leader from Koyo Alexandria, Nicusor Grigore, there have been several variants but the measure was adopted ...

WDP builds a 60,000 m² warehouse for Pirelli in Slatina

Wednesday, February 20, 2019

WDP will be expanding the car tyre manufacturer’s existing production facility in Slatina (RO) with a 62,000 m² state-of-the-art new-build warehouse, romaniajournal.ro reads. The project forms part of an ongoing expansion of Pirelli’s – listed in Italy – largest and most important production facility. The newly built warehouse will be constructed right next to the existing Pirelli facility in Slatina, and both will be directly connected. ...

The share of the private sector in the GDP is almost 80%, BVB chief says

Wednesday, February 20, 2019

The share of the private sector in the Gross Domestic Product (GDP) is almost 80%, Lucian Anghel, President of the Bucharest Stock Exchange (BVB) said on Monday, on the occasion of launching the third edition of the ‘Made in Romania’ project. “The share of the private sector in the GDP in Romania is almost 80%. So, this private sector is essential for increasing the welfare, for having more jobs and added value. This is the starting ...

Total revenues of Medicover, Synevo in Romania up by over 27% in 2018

Wednesday, February 20, 2019

Medicover Swedish private healthcare provider has announced the financial reports of the group and of the subsidiary in Romania for last year. The total revenues on the Romanian market have increased by 27.1% up to EUR 93.8 million in 2018 as against EUR 73.8 M reported in 2017. Romania is the third market on revenue ration worldwide, after Germany and Poland, posting a ration of 13.9%. According to Adrian Peake, general manager ...

JTI Romania certified as Top Employer for the sixth year in a row

Wednesday, February 20, 2019

For the sixth year in a row, the Top Employers Institute has certified JTI as Top Employer Romania 2019 and Top Employer Europe 2019. This certification highlights JTI’s excellent employment conditions. The prestigious Top Employers Institute assessed JTI Romania on the following criteria: Talent Strategy, Workforce Planning, Talent Acquisition, On Boarding, Training & development, Learning & Development, Performance Management, Leadership Development, Career ...

MedLife ends 2018 with 29% increase in Pro-Forma Sales and EBITDA higher by 33% as compared to prior year

Wednesday, February 20, 2019

MedLife private medical services operator in Romania has announced the end of 2018 with Consolidated Pro-forma Sales of RON 804 million at group level, registering an increase of 29 % as compared to 2017. In terms of EBITDA, the Group achieved an increase of 33% as compared to the previous period, pro-forma EBITDA reported at the level of 2018 being RON 103 million. In terms of pro-forma sales split by business lines, clinics and the corporate division ...

Electroaparataj finished 2018 with losses of 345,611 lei, 4 times lower than in 2017

Wednesday, February 13, 2019


Electroaparataj reported losses of 345,611 lei for 2018, about four times lower than in 2017, to which 1.31 million lei was added, according to preliminary financial data sent to Bucharest Stock Exchange on Tuesday. The business figure of the company was 17.997 million lei, on the rise by 6.8%, compared to 2017. The overall incomes were 18.11 million lei (17.67 million lei in 2017), and expenses were 18.455 million lei (18,981 lei in ...

Blue Air attracts German group Zeitfracht as shareholder

Wednesday, February 13, 2019

The German group Zeitfracht has become a major investor in Romania’s biggest air carrier Blue Air, as it bought 10 percent of the company’s shares. Negotiations began at the end of 2018, while transfer documents were signed on December 12, 2018, according to a Blue Air statement. Subsequently, Zeitfracht performed all procedures provided by German law for acquisitions in foreign companies that were finalized this ...

AFI Europe intends to take over Casa Radio project, in central Bucharest

Wednesday, February 13, 2019

AFI Europe N.V., present since 2005 on the Romanian market through AFI Europe Romania, has signed a non-binding Letter of Intent with Plaza Centers N.V. to take over its entire indirect shareholdings in the Casa Radio project, located in central Bucharest. The total value of the offer is EUR 60 million. Subject to the successful completion of this transaction, AFI Europe will become the majority shareholder in this project, with a share of 75%. The ...

TopShop Topman launches its first store in Romania

Wednesday, February 13, 2019

British fashion brands, Topshop and Topman, will enter the Romanian market with a brand new store design concept that will launch in Bucharest. The impressive 1,000 square meters of retail space will open in the Bucuresti Mall in March 2019. The Voici La Mode Group will oversee the British brands’ expansion into Romania as their official franchise partner in the country. Product is at the heart of the Bucharest Topshop Topman store design; simple ...

Eurostat: Romania ranks above the EU average in terms of birth rate of enterprises

Wednesday, February 13, 2019

Romania is above the European Union average in term of birth rate of enterprises, according to Eurostat. In 2016, the birth rate in Romania was 10.4 percent, compared with an EU average of 9.8 percent. The birth rate of enterprises is the number of newly-born companies as a proportion of the total number of activefirms. The higher birth rates in the EU were registered in Lithuania (18.8  percent), ...

Romanian organic agriculture input producer Norofert Organics expands to neighboring Moldova

Wednesday, February 13, 2019

Norofert Organics, the biggest input producer for organic agriculture in Romania, expands its business in the Republic of Moldova through a partnership with a local distributor, the company said quoted by http://business-review.eu. Norofert Organics also plans to enter this year other markets in Eastern Europe, such as Bulgaria or Croatia. One of Norofert’s leading products is effervescent tablets. In the first phase, ...

Safetech Innovations doubles profits in 2018 to reach RON 1.1 million, considers listing on BVB AeRO

Wednesday, February 13, 2019

Safetech Innovations, the cybersecurity leader on the Romanian information security market, closed 2018 with a net profit of RON 1,100,000, a historical record for the company, double compared to result registered in 2017, of RON 529,000, http://business-review.eu informs. In terms of revenues, the company registered in 2018 a turnover of RON 7 million, a decrease compared to the result from 2017, of RON 8 ...

Morgan Stanley in talks for EUR 150 mln office deal in Bucharest

Wednesday, February 13, 2019


Morgan Stanley Real Estate Romania, the local division of the American group, reportedly considers the acquisition of the Hermes Business Campus office project in ...

BAT moves service center from Belgium to Romania

Wednesday, February 13, 2019

British American Tobacco (BAT), the second-largest tobacco producer in the world, will close a Belgian center and move its activities to Romania while the trade unions say it is a “typical case of social dumping.” The 45 employees of the BAT Center in the Molenbeek district of Brussels, were announced about the move on Friday, February 1, according to local ...

Deloitte Romania appoints new director for marketing and business development

Wednesday, February 13, 2019

Deloitte Romania appointed Romanian Ruxandra Bandila as Director for Marketing and Business Development. She will report to Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova. Bandila has decided to rejoin the professional services sector after her career path took her through various fields, from project management, marketing and business development, to strategy and operations in different ...

The Competition Council authorized the taking over of Glokal Dijital Hizmetler Pazarlama by GLQ Holdings and DHI Investment

Wednesday, February 6, 2019

The Competition Council authorized the trading through  which GLQ Holdings and DHI Investment takes over Glokal Dijital Hizmetler Pazarlama ve Ticaret through the company Glocal Invest, according to a press release of the institution.DHI Invest BV  and Glocal Invest BV, both from the Netherlands are owned by Dogan Sirketler Grubu Holding AS Turkey.In Romania as well as on an international plan, Dogan Sirketler Grubu Holding AS is active in ...

In 2018, every two days a company with impact in the economy got into insolvency

Wednesday, February 6, 2019


The number of insolvencies among the companies of impact was kept constant in the last three years registering a slight drop from 184 of companies in 2017 to 183 in 2018 shows an analysis of CITR company specialized in insolvencies. The total value of assets immobilized of the companies of impact in insolvency reached in 2018 809 million euro, the lowest threshold over the last five years and dropping with 34.44% as compared to the previous ...

Navodari Chemical Fertiliser Plant more successful in 2018

Wednesday, February 6, 2019


Navodari Chemical Fertiliser Plant, the only Romanian manufacturer of technological fertilisers in Romania, concluded 2018 financial year with a business figure of 106 million lei, on the rise by 10% against the previous year, according to a company press release. “2018 was a good year for us and I think this is due to the fact that we are very attentive to farmers’ needs. The latter started changing their options for fertilisers and ...

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