Romania Feed

Over half of Europeans and all car fleet managers across Europa plan to buy electric vehicles (EVs) over the next two years, per the e-Readiness Report 2021 drafted by Strategy&, the global strategy consulting team at PwC.

Investment fund The Rohatyn Group (TRG) has sold Pet Network, a company also present in Romania via the Animax and MaxiPet brands, to private equity firm A&M Capital Europe.

Seed producer and processor Agribusiness Germina plans to sell a corn processing facility in Vadeni (Braila County) to Rodbun Group, one of the leading agribusiness companies in Romania, at a price of EUR650,000.

Romanian electrical components manufacturer Romradiatoare Brasov (RRD.RO) reported a net profit of RON1.2 million in the first six months of 2021, compared with a loss of RON638,580 in the same period in 2020.

Romania’s government approved in its latest meeting a memorandum of understanding (MoU) proposed by the Ministry of Investments and European Projects for the collaboration between the local government and the European Investment Bank (EIB) in order to support the implementation of EU-funded projects for 2021-2027 period.

Deloitte assisted the asset management firm The Rohatyn Group (TRG) in the sale of Pet Network, the leading omni-channel pet care platform in South-Eastern Europe, present through multiple brands in Romania, Croatia, Slovenia, Serbia and Bulgaria, to the private equity firm A&M Capital Europe. The transaction is expected to close in the third quarter of 2021.

Over six in ten Romanian employees say they do not have a plan to boost their revenues after retirement, such as private pensions or real estate assets, and they are strictly relying on the state pension.

Romania’s banking system reached a profit of RON3.732 billion at the end of the first five months of 2021, according to a presentation released by Cristian Popa, member of the Board of Directors of Romania’s central bank.

Paving stone manufacturer Symmetrica of Suceava expects Romania's paving stone market to reach EUR165 million at the end of 2021, with its advance amounting to just 3% year-over-year, as the market is severely dented by the commodities boom.

The 1,000 biggest employers in the Romanian economy in mid-2021 had a headcount of 1.46 million employees, 72,000 more than in the similar period of 5 year ago, reveals an analysis by USR Plus deputy Cristian Seidler based on information from Revisal, the software keeping track of all employees in Romania.

Significant investments are budgeted for 2021 on the cellulose and paper market, after 2020 brought companies in the field robust demand, at least for a period.

Despite the steepest crisis the hospitality industry is coping with, investors’ interest has not dwindled as they are betting on projects worth tens of million euros in this field.

Dialysis service provider Diaverum Romania, ended 2020 with RON338 million revenue, an about 10% increase on 2019, Finance Ministry data show.

The number of pharmacies in Romania went down slightly by 54 in 2020, but last year was the second year of decline, National Statistics Institute data show. The decrease in 2019 was about the same as in 2020.

Danish-held furniture and home décor products retailer JYSK continues expansion in Romania by opening new stores, in Timisoara and Rosiorii de Vede, Teleorman, for a total of 106 in the country.

Regional investment fund SIF Muntenia (SIF4.RO) on Wednesday announced on the Bucharest Stock Exchange that Romania’s Financial Supervisory Authority (ASF) had approved its share repurchase program, which should enable it to repurchase 2.63% of its shares.

The European Bank for Reconstruction and Development (EBRD) has become, starting August 25, 2021, a shareholder with a 25% interest in the share capital of gas transmission company Vestmoldtransgaz, the subsidiary of Romania's natural gas transmission company Transgaz in the Republic of Moldova, which owns and operates the Ungheni-Chisinau gas transmission pipeline.

Romanian real estate developer Impact Developer & Contractor (IMP.RO) said in a stock market report Wednesday that it signed a general contractor agreement with RCTI Company SRL for the construction of a residential complex in capital Bucharest.

Digi Communications said in a stock market report on Wednesday that the employees of RCS&RDS, the Romanian unit of Digi Group, will receive 39,000 stock options for the fulfilment of the performance criteria set out.

Romania was awarded the “exceptional” rating for its crops in 2021. Agriculture ministry data show that Romanian farmers obtained record wheat, barley and rapeseed crops this year and very good maize and sunflower crops are also expected this autumn.