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Covaciu family is considering moving IPEC Alba Iulia to another country because of recent years’ energy price evolution and the government’s inability to secure predictability and a level playing field for Romanian producers.
Salt Bank, which has a EUR5 million bond issue with an 8.5% yearly yield and maturing on December 18, 2024 listed on the Bucharest Stock Exchange, posted RON31 million losses in the first half of 2024, as the bank prepared for the launch of its mobile app. The losses in the first half of 2023 stood at RON1.5 million.
IKEA wants to open more stores in Romania and is looking at several cities and also the possibility of adding more stores in Bucharest, where it already has two, says Jesper Brodin, CEO of Ingka Group, the largest IKEA franchiser.
Miele Tehnica Brasov, the subsidiary of Germany’s Miele Group, has leased a 2,000 square meter shed from VGP Brasov to expand its manufacturing area and will use the space to assemble drives and pumps for home appliances.
Froo Romania Retail, a company of Poland’s Żabka Group, has opened its 20th franchised store in Romania, on the Iuliu Maniu Boulevard in Bucharest. This is its largest store in the country.
Leoni Wiring Systems, which had received approval for EUR4.77 million state aid in October 2023, has notified the Finance Ministry of its decision to drop the implementation of the investment project as the German-held group is undergoing restructuring of the local operations.
Premier Energy (PE.RO), a producer, distributor and supplier of electricity and distributor and supplier of natural gas, has increased its stake in subsidiary True Energy Management SRL from 60% to 75%, following the conclusion of a share purchase agreement, it said in a report to the Bucharest Stock Exchange.
DN Agrar Group, Romania’s largest integrated livestock farm, in H1/2024 registered turnover worth RON83.3 million, up 3.6% from H1/2023.
ING Bank Romania saw its revenues rise 9.6% in the first half of 2024, to RON1.79 billion, supported by the rising number of clients and expansion of loan portfolio.
Carbochim Cluj-Napoca, Romania’s largest producer of professional abrasives, ended the first half fo 2024 with RON246,422 net profit, from RON118.9 million in H1/2023.
Agricover Holding, an entrepreneurial agricultural business, reported RON35 million net profit in the first half of 2024, from around RON1 million in the same period of 2023, while revenues dropped to RON806 million from RON1 billion.
Clifford Chance Badea advised Nofar Energy, one of the most dynamic renewable energy investors in Romania, in the signing of the agreement for the acquisition of 100% in Aviv Renewable Investment, the project company developing a 160 MW photovoltaic park in Giurgiu County.
Electricity supplier and distributor Electrica for the first half of this year reported operating income worth RON4.7 billion, down 29%, and RON102 million net profit, RON40 million below the H1/2023 level.
Ramnicu Valcea-based Don Pedro, a major Romanian producer of tissue paper, ended 2023 with RON251 million turnover, up 11% from 2002.
Local paver manufacturer Elis Pavaje of Alba county has this year started to expand the plant it has near Ploiesti, in Stoenesti locality, and plans to build a new plant in Olt county.
Alin Niculae, who controls the biggest Romanian-held oil wholesale company Oscar Downstream, is set to buy Iride Business Park office project of northern Bucharest for EUR45 million.
Carrion Expedition, the Spanish-owned freight forwarding company based in Cluj-Napoca, posted RON97.2 million (EUR19.6 million) revenue in 2023, down 64.4% from the previous year’s RON273.1 million (EUR55.4 million), Finance Ministry data show.
Chemical producer and supplier Chimcomp0lex Borzesti (CRC.RO), which owns two industrial sites in Onesti and Ramnicu Valcea and is one of the largest entrepreneurial businesses in Romania, has submitted a bid to take over the heating service concession in Iasi, as part of a large-scale industrial development project named Iasi Biochemistry Plant
Coca-Cola HBC Romania has appointed Cornel Caramizaru general manager, replacing Jovan Radosavljevic, who has supervised the Romanian operations in the last six years.
Technology company 2Performant Network (2P.RO), the largest actor on the affiliate marketing market in Romania, posted RON27.9 million operating revenue in the first half of 2024, 18% more than in the year-ago period.18957 items