Romania Feed

Furniture maker Artemob International, controlled by French company P3G Industries, with plants in Bucharest, Sovata and Tarnaveni, returned to profit last year, with a net gain of above RON6 million (EUR1.2 million), from net losses of around RON13,700 (EUR2,800).

The outlook of Romania’s joining the Schengen area makes major investors raise their stake for Romania. WDP, a major logistic and industrial space developers locally, says it wants to secure its territory in eastern Europe and plans to reach 2 million square meters in the coming years.

A project worth EUR6 million, due to include several sports grounds, swimming pools, event halls and a hotel, is set to be launched in Feleacu locality, Cluj county.

Golden Foods Snacks, a group held by the Mitzalis Family, has acquired Galati-based bakery and pastry producer Derpan owned by the Ancuta Family.

Six out of ten Romanians say their financial situation has worsened compared to last year and future expectations are not optimistic either, as per CEC Bank’s quarterly financial Barometer developed in partnership with banking comparison maker FinZoom.ro.

Nuclear power producer Nuclearelectrica (SNN.RO) placed with Romania’s import-export bank Eximbank a term deposit without extension in the amount of RON73.1 million, the company informed its shareholders and investors via a report to the Bucharest Stock Exchange on Friday (Oct 21).

The Board of Directors of Romanian shipyard Santierul Naval Orsova (SNO.RO) included on the agenda of the General Ordinary Meeting of Shareholders due on Nov 24 the distribution of dividends in the amount of RON6.05 million from the profit reconstituted by transferring the amount from the balance on Dec 31, 2021 of the "Other reserves" account to the dividend account, as per a stock market report.

Dr.Max Group, the leading pharmacy chain in Central Europe, held by Czech investment fund Penta Investments, signed an agreement for the acquisition of retail and distribution operations of Gedeon Richter in Romania, as per data provided on Friday (Oct 21) by the officials of the Bucharest office of law firm Wolf Theiss which assisted Dr.Max Group in the transaction.

ALRO, one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, welcomes the adoption of the Emergency Ordinance on compensating the indirect emissions costs embedded in the electricity price.

GTC, one of the leading real estate companies in Central and Eastern Europe (CEE), has completed the refurbishment of the City Gate Complex, following an investment of EUR3.5 million.

Romania's nuclear power producer Nuclearelectrica (SNN.RO), listed on the Bucharest Stick Exchange since 2013, will benefit from the issuer's market-making services provided by BRK Financial Group, starting October 21, 2022.

Aquila Part Prod, the largest player on Romania’s consumer goods distribution market, is investing over EUR220,000 to expand the photovoltaic plant launched in late March, as well as in the construction of a new plant in Ploiesti, with a total combined capacity of 230 Kw.

Cegeka Romania, the local subsidiary of the Belgian company of the same name, expects turnover to rise by around 28% in 2022, to EUR48 million.

Emerald medical center of Bucharest, part of Sofmedica group, will open a second clinic in Iasi in the wake of EUR3 million investments.

Bearing manufacturer Timken Romania, the local subsidiary of the US Timken group, posted RON460.6 million (EUR93.6 million) revenue in 2021, down about 6.5% from the RON492.6 million (EUR101.8 million) in 2020, Finance Ministry data show.

Automotive component manufacturer Preh Romania, a supplier for Porsche, Mercedes and Tesla, currently has 150 jobs available at its car components factory in Ghimbav, according to the County Employment Agency (AJOFM) Brasov.

Bittnet Systems (BNET.RO) on Thursday informed investors in a stock market report about a credit agreement concluded between Dendrio Solutions, an IT&C integrator part of Bittnet Group, and lender Banca Transilvania.

Romania's finance ministry on Thursday (Oct 20) reopened a bond issue due in 2026 and borrowed RON398 million from banks, below the planned level of RON400 million, at an annual average yield of 9.47%.

GapMinder, a venture capital fund investing in technology companies created in Romania and Central Europe, said it invested in OutThink, a cybersecurity SaaS platform that identifies, understands and manages human risk, company representatives said in a statement.

The Romanian Government has approved a substantiation note regarding the acquisition by the Ministry of Transport of 20 inter-regional electric trains (RE-IR2) for passengers, a deal worth almost EUR184 million (VAT included) funded both from the EU’s Resilience Facility and the state budget.