Romania Feed

AROBS Transilvania Software, the largest tech company listed on the Bucharest Stock Exchange, has announced it entirely took over Nordlogic, a local group of companies specializing in the development of personalized products and software platforms, with offices in Cluj-Napoca, Oradea and Seattle, US.

OMV Petrom (SNP.RO), the biggest company listed on the Bucharest Stock Exchange, for 2Q/2022 reported net profit worth RON2.89 billion, up 65.7% from the previous quarter and more than seven times higher than the 2Q/2021 figure.

Pentalog Romania, a French-owned provider of software development and consultancy services, present in Romania for over two decades, in 2021 saw net profit go up by over 16% in 2021, year-on-year, topping EUR3 million (over RON15 million) and thus reaching the 2019 level.

Serban Radu, one of the two stakeholders in bookstore chain Carturesti, says the company has an almost EUR1 million budget for expansion.

Pharmacy network Gedeon Richter, part of Hungary’s pharmaceutical group of the same name, ended 2021 with turnover of above RON226 million, 13% higher than in the previous year.

MOL Romania, one of the biggest players in Romania’s oil sector, says the non-fuel segment plays a key role in its development strategy, with the group recently entering the segment of private labels.

Theta Furniture&More, one of the largest players in the interior design and custom furniture market in Romania, is readying a photovoltaic panel investment project in a bid to cover around 60% of the electricity needs of the new plant of Paulesti, Prahova county, explained Florin Gheorghe, CEO and co-founder of the company.

Artur Cirjevski, CEO of Food Union Group in Europe, a group that owns Alpin 57 Lux, a maker of ice cream, frozen vegs and bakery products, says the group has carried out large investments in Romania and this year plans to develop the sales infrastructure, with investments revolving around EUR1 million.

Coffee shop chain 5 to go, which has reached 400 units, will end 2022 with EUR25 million, according to its founder, Radu Savopol. The 2022 figure is almost double the 2021 level.

Germany’s retailer Kaufland, the second largest player on the local retail market by turnover, is opening its second hypermarket in a shopping center, in the city of Oradea (northwest Romania).

The Deal Advisory team of KPMG in Romania has advised Polish Enterprise Fund VII, a private equity fund managed by Enterprise Investors (EI), on the sale of 100% in Noriel Group, the leading Romanian toys, games, and baby products retailer, to Sunman Group, Turkish market leader in toy retail, distribution and manufacturing.

Law firm Wolf Theiss has provided legal assistance to Turkey’s Sunman throughout a transaction whereby the latter acquired Noriel Group, the leader of the Romanian retail market of toys, games and other children's items, from Enterprise Investors.

Romanian state-owned oil transporter Conpet Ploiesti (COTE.RO) on Wednesday said it concluded a contract with OMV Petrom (SNP.RO) for the transport of crude oil during the August 1 - 31, 2022 period, as per a stock market report.

Germany's IT services provider adesso continues its expansion process in Europe by establishing a branch in Romania's capital city of Bucharest.

Romanian company Certion, which develops real estate projects in local seaside and mountain resorts, is set to invest nearly EUR1.5 million to establish a campus for employees in the Neptun seaside resort.

The Bucharest office space market returned to pre-pandemic levels, the industrial and logistics spaces reach new record highs and the investment market could reach its highest level in more than ten years, according to Colliers’ Mid-Year Report for 2022.

Lending in support of EU cohesion policy by the European Investment Bank Group (EIB Group) helped contain the economic fallout from the pandemic and could now help counter some of the short-term fallout from the war in Ukraine, as per a new report, EIB Group Activities in EU Cohesion Regions.

Delgaz Grid, German utility group E.ON's natural gas and electricity distribution company in Romania, has completed works aimed at replacing high and medium voltage equipment at the Stanilesti and Murgeni transformer stations located in Vaslui County.

Deloitte Romania strengthens its management team by promoting Clarisa Bulai to Risk Advisory Director, Adrian Ifrim to Director with the Cyber Risk Advisory Department, Andrei Paraschiv to Director in the Consulting practice, Catalin Ruja to Director in the FSI Risk and Regulatory Advisory team, and Diana Fejer to Partner within Reff & Associates | Deloitte Legal, effective September 1, 2022.

Law firm RTPR has assisted the European Bank for Reconstruction and Development (EBRD) in relation to the loan granted to Calihory Group operating under the DONA brand, an integrated player in the Romanian pharmaceutical market.