Romania Feed

The corn starch factory in Medgidia, inaugurated last year by Turkey’s Tosmur Group, has grown to 230 employees, plus subcontractors, and ended 2022 with EUR65 million revenue, its officials said.

Entrepreneur Cristian Erbasu, who owns builder Constructii Erbasu, plans to start building a hotel in Oradea by the end of this year.

Profi, a store chain held by investment fund Mid Europa Partners, will maintain its expansion pace this year with more than 250 new openings and remodels.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, stayed at 7.28% a year on Monday (January 23).

The ''Avram Iancu'' International Airport of Cluj-Napoca, a public corporation subordinated to the Cluj County Council, estimates that total traffic in 2023 will be around 3.1 million passengers, it said in a press release.

Rompetrol Rafinare, a member of the KMG International Group (Rompetrol), will carry out a series of maintenance operations in the coming period and will reduce production at the Petromidia refinery for about ten days.

Romania's private pension system, consisting of Pillar II - mandatory private funds to which several million Romanian employees contribute a portion of their gross monthly income, and Pillar III - voluntary private funds to which several hundred thousand Romanians contribute an amount of their choosing, has overshot the RON100 billion (EUR20 billion) asset mark.

The Board of Directors of Romaero Baneasa (RORX.RO) has decided to grant a new four-month term of office as CEO to Misa Popic.

The Romanian M&A market registered 258 deals in 2022, up 26%, with a total estimated value of $6.6 billion, 10% above the 2021 level, reveals an analysis by EY Romania.

Estonian-held Bolt, providing in Romania ride-hailing services, plus an electrical scooter maintenance services and food order app including an online mini-supermarket, with a team of around 270 persons nationwide, seeks to hire more than 50 specialists, Cristi Salceanu, country manager at Bolt Romania, told ZF.

Electronic parts producer Plexus Services Ro, the Romanian subsidiary of US group Plexus, currently has 306 jobs available for the Oradea plant.

AAylex One of Buzau, the company behind the poultry meat brand Cocorico, reached the 2,500-employee mark in 2022 and continues recruiting, in line with company information.

Tire and inner tube distributor Nexxon in 2022 generated turnover worth RON211 million (EUR42.8 million), up 9.2% from 2021, in line with ZF calculations based on company and Finance Ministry data.

Local construction company Ecoterm in 2022 started a EUR2 million investment to develop its own warehouse, in Afumati.

Paint and varnish manufacturer Policolor-Orgachim, owned by two investment funds, is set to enter e-commerce in the second half of this year and is working on an expansion project for the plant of Militari, Bucharest.

Timis-based freight carrier World Mediatrans, one of the most dynamic companies in this field, founded in 1997 by Gabriel Lungu, in 2022 reached EUR30 million turnover and expects growth in 2023 as well.

Winemaker Purcari (WINE.RO) posted RON302.6 million revenue last year, up 22% on the 2021 figure, above the previously announced guidance of 15%-20%, according to preliminary commercial results published on the Bucharest Stock Exchange.

The Ascendis Group, the leading player in the training and professional development consultancy market in Romania, is investing EUR100,000 in local software company Ringhel, which created PROCESIO technology, a platform that allows employees without advanced technical knowledge to build their own software products for the processes they manage.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, on Friday, January 20, rose to 7.28% from 7.27% on Thursday.

Electromontaj, which specializes in constructions for energy projects, has won the tender for the design and building of infrastructure for the largest wind park of Moldavia, Ruginoasa locality, an investment by DTEK Renewables International, the company controlled by Ukrainian billionaire Rinat Akhmetov and Moldova Eolian.