Romania Feed

Ford on Tuesday confirmed it would invest $300 million to produce a new light commercial vehicle in 2023, at its assembly plant in Craiova (southern Romania), including a fully-electric version of it, in 2024. This will be the first fully-electric Ford vehicle assembled in Romania.

Dermo-cosmetics sales continued to increase in 2020, while sales of perfume and make-up dropped, says Rucsandra Hurezeanu, founder of cosmetics producer Ivatherm.

MedLife Group (M.RO), the leader of the private medical services market in Romania, targets a turnover of over RON1.2 billion, on a group level, in 2021, up 15% on the year, according to its revenue and expenditure budget for 2021.

Builder Synergy Construction ended 2020 with RON328 million revenue, more than double the 2019 level, Finance Ministry data show.

Cris-Tim group, one of the largest cold cuts producers in Romania, is looking for space in good locations to expand its own retail chain in 2021, its officials say.

Shareholders of Rompetrol Well Services (PTR.RO), the oil services division of Rompetrol Group, on Monday approved the distribution of dividends amounting to RON4.3 million from the 2020 profit plus RON29 million from reserves.

Shareholders of Romanian pharmaceutical company Biofarm Bucuresti (BIO.RO) on Monday approved the company's plans to distribute dividends totaling RON21.7 million.

Investment vehicle Simple Capital is investing in fintech solutions startup DIP Software by acquiring 10% of the startup's shares, seeking to accelerate its global development.

Romania's nuclear power producer Nuclearelectrica (SNN.RO), which operates the country's sole nuclear power plant, received shareholder approval Monday to distribute dividends totaling RON472 million from its 2020 profit.

Venture capital fund Mozaik Investments, with regional focus, has bought into Flavours Group, which includes the Stradale restaurant chain, and has a EUR5 million expansion plan.

Romania's finance ministry on Monday raised 659.5 million lei (EUR134 million), versus a RON500 million target, selling bonds maturing in January 2028 at an average yield of 2.8%, central bank data showed.

Shareholders of Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO) on Monday approved the distribution of 50% of the company’s 2020 profit under the form of dividends, with a gross value of RON0.00276217 per share, which translates into a yield of 1.5% relative to Monday’s trading price on the stock market.

Romanian technology company 2Performant Network (2P.RO), listed on the AeRO market of the Bucharest Stock Exchange, under the ticker symbol 2P, targets a turnover of RON25.58 million at the end of 2021, up 26% from 2020.

Procter & Gamble Romania (P&G) inaugurates its new factory in Urlati, Prahova, where it will produce laundry detergent pods, creating over 200 new jobs.

Sales in the food retail sector are estimated at around RON130 billion in 2020 compared with sales of RON118 billion in 2019, according to a KeysFin analysis.

Romanian plastics producer Sterk Plast has been approved for EUR2.5 million state aid for a EUR5 million investment in expanding production bat its factory in Medgidia, southeast Romania.

Romania’s Competition Council is looking into a transaction whereby Sandoz AG seeks to acquire from GlaxoSmithKline (GSK) the sale activity of cephalosporine-based antibiotics.

Brasov-based Visual Fan, which produces electronic devices under the brand Allview, has raised RON15.5 million from investors through an offer oversubscribed six times and closed early by broker Tradeville.

The Board of Directors of regional investment fund SIF Banat Crisana (SIF1.RO) has re-elected former finance minister Bogdan Dragoi as Board Chairman for a four-year term, starting April 25, 2021 until April 25, 2025, per a stock market report released Monday.

One year after the WHO declared COVID-19 a pandemic, 76% of global CEOs believe global economic growth will improve in 2021. In Central and Eastern Europe (CEE), optimism is also the order of the day, with 64% of CEOs expecting an improvement in growth – a record high and more than double last year’s 24% rate, per the 24th edition of PwC’s CEO Survey for the CEE region.