Romania Feed

Real estate developer Genesis Property has started turning business park Novo Park of northern Bucharest into Yunity Park, a new real estate concept, a EUR50 million investment.

Albrau, a major independent brewer, has a RON5 million investment budget for this year, aimed at new production lines and boosting energy efficiency.

Spirits producer Diageo plans to develop its activities on the local market given the solid results registered in Romania.

River transport company Trading Line Group, majority held by entrepreneur Paul Ivanov, has bought two floating cranes that can handle 12,000 tons per day, four times as much as the existing ones in Constanta harbor. It is also investing EUR50 million to purchase four fast high-capacity vessels and two drones.

Technology startup investment platform SeedBlink announces the launch of Nimity, a product designed to simplify equity management for entrepreneurs and private investors, company representatives said in a statement.

Four out of five Romanians who will go on holiday abroad in 2023 plan to pay there by card, smartphone, or smartwatch, as per the latest Visa CEE Travel and Payment Intentions Study 2023 covering eight markets in Central and Eastern Europe (CEE), including Romania.

Deloitte Tehnologie SRL, the IT services center opened by the consulting and audit company in Bucharest in 2016, posted RON444.5 million revenue in 2022, up 49% from the previous year, data from its report to the Finance Ministry show.

Grup Serban Holding (GSH.RO), a Romanian entrepreneurial agricultural business, on Monday announced that chief executive officer and majority owner Lucian Nicolae Serban had donated 863,000 shares to each of his sons – Luca-Nicolae Serban and Matei-Mihai Serban.

Romania's Finance Ministry raised RON950 million from banks on Monday (June 19), selling government paper maturing in April 2030, at an annual average yield of 6.72%.

Romania's national grid company Transelectrica (TEL.RO) has announced in a stock market report on June 19 the distribution of the accounting profit left after deducting the profit tax on December 31, 2022 in the amount of nearly RON514.6 million.

Private equity firm Enterprise Investors (EI) is reviewing a number of projects in various stages of development, the firm said.

French DIY retailer Leroy Merlin has appointed Mathieu Bauduin to the position of Chief Executive Officer (CEO) of its Romanian subsidiary, starting this week.

Building materials maker Cemacon Cluj (CEON.RO) completed on June 16, 2023 the acquisition of ceramic block maker Euro Caramida SA based in Bihor County, by signing the transaction closing certificate.

The Romanian capital market grew by 7.1% in the first five months of 2023, through the BET-TR index, which also includes dividends attributed to shareholders.

Furniture retailer and manufacturer Mobexpert will open three new stores in Romania, in Piatra Neamt, Targoviste and Ramnicu Valcea by the end of 2023, CEO Adelina Badea says.

Dacia Mioveni and Ford Otosan Craiova, the two car plants in Romania, manufactured 51,0125 vehicles in May 2023, 28.38% more than 39,822 units produced in May 2022, as per data from the country's carmakers association ACAROM.

US giant Procter & Gamble (P&G) has appointed executive Radu Maftei to the position of senior vice president for Southeast Europe (SEE) and in this role, Maftei will coordinate the Group's operations across 12 markets, including Romania.

Central and Eastern Europe, including Romania, is benefiting from the relocation of production activities from more far away countries, such as Asian ones, closer to consumers, particularly owing to the significantly lower costs compared to Western Europe, reads a report drawn up by real estate consultancy Cushman & Wakefield.

One United Properties, the leading green investor and developer of residential, mixed-use, and office real estate in Romania, has announced it continues its partnership with Veolia Romania Solutii Integrate (VRSI), a company part of Veolia Romania, with an agreement to implement innovative energy solutions for two other developments in its portfolio: One Lake Club and One High District.

Germany’s construction materials manufacturer Hasit, part of Fixit group, has started preparations for building a new plant in Bucharest.