Romania Feed

Cluj-based importer and distributor of electronic products and accessories has invested EUR6.7 million in a new logistics center where it will also relocate its offices, at the beginning of autumn 2021.

Dentotal Group, one of the largest dental equipment wholesalers in Romania, backed by Central European private equity fund Abris Capital Partners, has signed an agreement to acquire Bulgaria’s dental equipment wholesaler Dentatechnica.

AAylex Group, owned by entrepreneur Bogdan Stanca, which produces and sells poultry meat under the Cocorico brand, started the process of merging all its companies in order to create a major player on the European market, under the name AAylex One, a company with a share capital of over EUR50 million and total assets of nearly EUR300 million.

Back-to-school spending is projected to rise by 16% this year compared to 2020, reaching USD 32.5 billion, and digital learning tools are replacing traditional school supplies, driving the sales for technology-based products for students up 37% YoY, according to Deloitte 2021 back-to- school survey. For buying school-related technology products, 49% of participants consider online stores as first option, and 41% are planning to visit discount retailers.

Insurance company Allianz-Ţiriac has signed a lease contract to relocate its head office to the Tiriac Tower office building located in Bucharest’s Victory Square, where it will occupy three floors and a total area of 4,640 square meters.

Jewelry retailer Teilor generated sales of RON88 million in the first six months of this year, 116% above turnover hit in the same period of 2020 and over 46% higher than in the first half of 2019.

Winemaker Purcari (WINE.RO) on Wednesday reported revenue of RON106.5 million for the first half of 2021, up 25% on the year, due to a 47% surge in sales in the second quarter of 2021, per the company’s financial report.

Azomures, Romania’s largest gas consumer, a business of around RON2 billion, says agriculture fertilizer prices have soared this year amid the unprecedented natural gas price hikes.

Uniqa Asigurari reported gross underwritten premiums worth EUR18.7 million, for the first half of this year, on the non-automotive insurance segment, up 3% from the same period of 2020, while Uniqa Asigurari de Viata registered a significant sales increase, of 56%, hitting underwritten premiums of EUR11.5 million in June 2021.

Vaslui-based meat processor Vanbet, controlled by entrepreneur Fanel Bogos, in 2020 reached turnover worth above RON233 million (EUR48.3 million), up 6% from 2019, when the company raked in around RON219.2 million (EUR46.2 million) in total turnover, according to ZF calculations based on Finance Ministry data.

Garden Inn Bucharest Airport Hotel, controlled by Lithuania’s Apex Alliance, in July posted a 70% occupancy rate, with demand on an upward trend in recent months.

Poland’s Solaris Bus & Coach, one of the largest public transportation electric vehicle manufacturers, has completed delivery of 16 electric buses to Craiova and of three trolleybuses to Medias, following contracts signed with the two municipalities in 2020.

Belgian-held developer Speedwell has started work on the second building of residential project The Ivy on Strada Jandarmeriei in northern Bucharest.

BRK Financial Group (BRK.RO) said in a stock market report Tuesday that, starting August 25, 2021, it will benefit from the Issuer's Market Maker (IMM) services provided by Wood & Company Financial Services, a top ten brokerage firm on the local stock market.

Deloitte Romania expands its management team by promoting four employees to the position of directors in the risk advisory, tax advisory, financial advisory and audit and assurance practices, following their contribution and commitment to serving clients and developing their teams.

Bankata.ro, an independent and digital platform providing complete financial product aggregation services, has received a financing of EUR180,000 for the development and implementation of its business plan.

Brick Romania, a local DIY and home improvement retailer based in Constanta, will be developing a network of regional centers to ensure supply to small localities.

Simtel Team (SMTL.RO), a Romanian engineering and technology company, has built for Kaufland Romania, one of the largest retail companies in Europe, two power plants which entailed the installation of over 1,300 photovoltaic (solar) panels.

Romanian oilfield equipment maker Upet Targoviste (UPET.RO) has signed an intermediation contract with real estate consulting firms Colliers and Jones Lang LaSalle (JLL) with a view to finding potential buyers for its factory, as it looks into the possibility of relocating production.

Electroaparataj Targoviste, a maker of electrical equipment and electrotechnical accessories, ended the first half of 2021 with net losses of RON415,425, compared with net profit worth RON711,115 in the same period of last year, amid turnover of RON4.5 million, down 42.9%, according to ZF calculations based on the first-half report the company filed with the BSE.