Romania Feed

Local startup Zitamine Nutrition, which developed an algorithm to personalize food supplements for each individual separately, has raised EUR350,000 from three investment funds in Romania – V7 Capital, Cleverage VC and The Mavers Ventures and a number of individual investors from the Bravva Angels community.

Radisson hotel chain will operate a new hotel in capital city Bucharest, which is located within the Central District Lagoon City real estate project developed by local company Forty Management

Nine out of ten employers who participated in the latest survey carried out by online recruitment platform eJobs Romania said they were planning to hire by the end of 2023.

The total trading value of all types of financial instruments listed on the Regulated Market of the Bucharest Stock Exchange (BVB) reached a new record high in the first eight months of 2023 (the January-August period).

SeedBlink, the financing and equity management platform for European tech start-ups, launches "Community Stars" - an initiative dedicated to early-stage start-ups. This new type of opportunity, strategically placed alongside VC-backed rounds and syndications, is aimed at graduating start-ups of technology and business accelerators.

Czech group Packeta, which operates the delivery platform of the same name, has recruitment plans and has announced the opening of 25 new positions in the hubs it owns in Oradea and Bucharest.

Sphere Franchise Group, which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, has announced it is implementing a Pizza Hut restaurant network reorganization process given recent declining results.

Furniture maker Ecolor, the local subsidiary of Sweden’s Gyllensvaans Mobiler, for 2022 reported turnover worth RON568.5 million (EUR115.3 million), up 30% from 2021, in line with ZF calculations based on Finance Ministry data.

Airbag manufacturer GST Safety Textiles Ro, the local subsidiary of Germany concern Global Safety Textiles, acquired in 20211 by South Korea’s Hyosung group, for 2022 reported turnover worth around RON492.8 million (EUR99.9 million), up 17% from 2021, in line with ZF calculations based on Finance Ministry data.

Thermal-insulating panel producer Topanel, controlled by a Turkish firm, has earmarked a EUR10 million investment for a new plant, next to the already existing one in Ramnicu Valcea.

Jacobs Douwe Egberts Ro, the local subsidiary of the group of the same name, posted RON526.2 million (EUR106.7 million) revenue in 2022, up 14% from the previous year’s about RON462.5 million (EUR94 million), according to ZF calculations based on Finance Ministry data.

Industrial ventilation equipment manufacturer Ruck Ventilatoare in Tarnaveni, Mures County, posted RON113.5 million (EUR23 million) revenue in 2022, down by about 17% compared with the previous year’s RON137.1 million (EUR27.9 million), according to ZF calculations based on Finance Ministry data.

Textile manufacturer Tanex, which has two plants, one in Bucharest and another in Valenii de Munte, Prahova County, posted RON94 million (about EUR19 million) revenue in 2022, up almost 47% from the previous year’s RON64 million (EUR13 million), according to ZF calculations based on data on the Finance Ministry website.

North Star Support Group (NSSG), a Romania-based risk management services provider with global operations, has received a capital infusion from Avante Corp (Avante), a Canadian security services company.

Rompetrol Rafinare, a company part of KMG International and owner of Petromidia Navodari and Vega Ploiesti refineries, said in a stock market report on Monday (Sept 25) that Florian Daniel Pop is the company's new General Director.

Bittnet Systems (BNET.RO), an IT&C solutions integrator and provider of training services in the IT sector, said in a stock market report on Monday (Sept 25) that it was summoning its shareholders on October 30, 2023, to revoke the company's auditor, BDO Audit SRL, to continue with the new auditor, LionLink Audit, until the end of 2023, and subsequently with KPMG.

Private lending in Romania grew by 5.5% in nominal terms (down 3.6% in real terms) to RON378,75 billion in August 2023 compared to August 2022, central bank data showed on Monday (September 25).

Romania's Finance Ministry raised RON1.8 billion from banks on Monday (September 25), selling government paper in two auctions, at annual average yields of 6.49% and 6.90%.

US premium sound system maker Sonos chose northern Bucharest to open its first store in Romania at the end of last week, as part a plan to expand in the region, a market it sees as having potential.

Infinity Capital Investments has announced in a stock market report that it purchased 60.35 million shares of Electromagnetica (ELMA.RO), electrical equipment and produces electricity, representing 8.927% of the latter's share capital, for which it paid RON10.9 million.