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Over 34,000 insolvency procedures for juridical persons over 2019-2024
Wednesday, April 17, 2024
Over 34,000 general insolvency procedures for juricial persons were recorded over 2019-2024 as well as 172 procedures for physical persons, according to data presented on Tuesday by Valentina Burdescu, the CEO of the National Office of Trade Registrar (ONRC), at the debate “Restructuring – prevention measure for insolvency”, organized by Financial Intelligence. “Over 2019 and the first quarter of 2024, we have recorded 34,087 ...
The latest store concepts of the international brands CROPP and HOUSE are inaugurating at Colosseum Mall
Wednesday, April 17, 2024
Colosseum Mall and the Polish group LPP are expanding their partnership by opening two new stores in the shopping center, under the signatures of the international brands CROPP and HOUSE. LPP opened the largest Sinsay store in Romania at Colosseum Mall in the spring of 2022, covering an area of 2000 s qm. Now, it is strengthening its presence with two other significant brands from its portfolio, together occupying nearly 1300 s ...
Dr. Max reports 20% revenue growth
Wednesday, April 17, 2024
In the ranking of market leaders in the European pharmaceutical sector, Dr. Max Group has solidified its position as the second largest pharmacy network on the continent, recording an annual growth of 20%, with revenues of 4.6 billion euros in 2023. The figures underscore the brand’s growing presence and popularity among consumers, through successful expansion into various European markets, including the Czech Republic, Romania, Slovakia, Poland, Serbia, and ...
4,328 companies suspend activity in first two months of 2024
Wednesday, April 17, 2024
The number of companies that suspended their activity in the first two months of 2024 was 4,328, an increase of 38.58% compared to the same period last year, according to data published by the National Trade Register Office (ONRC).Most of the companies that suspended their activity were from Bucharest, namely 500 (up 24.07% compared to January-February 2023).By activity sectors, the highest number of suspensions was recorded in wholesale and retail trade, repair ...
Angst enters insolvency
Wednesday, April 17, 2024
Angst, a well-known player in the meat industry, went into insolvency. Peris Butchery and Primo Mix Food requested Angst insolvency on September 21, 2023, according to Retail.ro. The decision to enter insolvency was taken on March 29, 2024, with the right of appeal within seven days from the communication of the ...
Two Real Estate players acquire majority stake in Speedwell
Wednesday, April 17, 2024
Straco Real Estate and Baltisse have acquired a majority stake in the real estate developer Speedwell, a company that has real estate projects under development of around 1 billion euros in Romania. Baltisse is a private Belgian private investment, asset management and real estate company, and Straco Straco Real Estate is a leading real estate developer and investment company specializing in commercial, residential and mixed-use properties in ...
Exor EMS enters Romania, to produce electronics for industry
Wednesday, April 17, 2024
The Italian company Exor EMS, supported by Panasonic and part of the Holdex group, entered Romania through the acquisition of the Dm Elektron company. Exor Electronica produces electronic circuit boards in Rasnov, Brasov county, the parent company being specialized in hardware and software for the Internet of Things and in the design of advanced automation and HMI (Human Machine Interface) systems. The investment in Exor Electronica aims to ...
Group Sonaca invests EUR 38 M to build new plant in Romania
Wednesday, April 17, 2024
The Belgian group Sonaca, one of the world leaders in the development and production of structural components for the aerospace industry, will invest 38 million euros in building a new factory in ...
25,626 natural and legal persons, registered with Trade Office two months into 2024
Wednesday, April 17, 2024
The number of registrations of natural and legal persons decreased in the first two months of 2024 by 2.02%, compared to the same period of 2023, totalling 25,626 units, of which 67.4%, or 17,288, are limited liability companies (SRL), according to data centralised by the National Trade Register Office (ONRC).The most registrations were recorded in the municipality of Bucharest, namely 5,274 (up 8.72% compared to January-February 2023) and in the counties of Ilfov - 1,361 ...
Cristian Sporis, new mandate as President of AmCham Romania
Wednesday, April 17, 2024
Cristian Sporis has been re-elected President of AmCham Romania for a new mandate, following the General Meeting of Members and elections at the end of March, the organisation announced on Wednesday.In a press release, AmCham Romania has announced the new structure of the Board of Directors. Thus, Cristian Sporis, Vice-President, Head of Corporate Banking at Raiffeisen Bank Romania has been re-elected President of AmCham Romania for a new mandate, Daniela Nemoianu, ...
EY: Romanian M&A market evolution during the first quarter of 2024
Wednesday, April 10, 2024
During the first three months of 2024, the Romanian mergers and acquisitions (M&A) market recorded 63 transactions1, a modest uptick from the 61 deals recorded in Q1 2023, indicating an acceleration of activity from the previous two quarters, https://www.ey.com/ reads. The ...
KRUK reports 15% growth in the value of portfolios held in Romania at the end of 2023, to EUR 335 million
Wednesday, April 10, 2024
KRUK Group, the largest debt management company in Central and Eastern Europe with operations in seven countries, reported for 2023 portfolios with a total value of approximately EUR 335 million, up 15% from 2022. KRUK's customers paid debts amounting to almost EUR 150 million in 2023, 7% more than the previous year. KRUK SA is listed on the Warsaw Stock Exchange and currently has a market capitalization of almost two billion ...
KIKO Milano opens the first store in Romania, in ParkLake
Wednesday, April 10, 2024
KIKO Milano, part of Fais Group, opens the first store in Romania, in ParkLake Shopping Center. This inauguration marks the first episode of the company’s expansion on the Romanian market. As a testament to the brand’s popularity and the excitement surrounding its arrival, eager customers have been queuing outside the store since early morning, ready to be among the first to experience KIKO Milano’s wide range of make-up and ...
Analysis: M&A market in Romania has prospects for recovery, despite slow start in 2024
Wednesday, April 10, 2024
The M&A market in Romania had a slow start to the year, with 15 transactions worth 170 million EUR concluded in the first quarter, but there are prospects for recovery in the short term, with another 55 deals being announced in the mentioned period, according to data analysed by PwC Romania."The low number of transactions concluded at this time, despite the many announced (but not yet closed) transactions, signals that significantly more transactions will be ...
Siemens Mobility and Astra Vagoane Calatori expand partnership for production of trams in Romania
Wednesday, April 10, 2024
Siemens Mobility and Astra Vagoane Calatori have concluded a new agreement to consolidate and expand their collaboration, so that Siemens Mobility will supply 125 state-of-the-art bogies, while the company from Arad will produce Imperio trams, licensed by the German company.The trams will be specially designed for the Romanian market. The partnership contracts were signed in Budapest."Similar trams are currently manufactured by Siemens ...
Q1 Top stocks: Retail investors look to European stocks while continuing to back AI and weight loss drugs
Wednesday, April 10, 2024
European firms Novo-Nordisk, Repsol and Rheinmetall all featured in the top 10 risers list AI buzz continues to drive investors to market leaders Nvidia, Super Micro Computer and ARM Mattel saw biggest QoQ drop in users (-21%) with Barbie Movie shine beginning to fade Retail investors are increasingly looking for opportunities in European stocks while ...
Norofert, listed on the Bucharest Stock Exchange on the AeRO market
Wednesday, April 10, 2024
Norofert, the leader in regenerative agriculture research and one of the largest input producers in Romania, listed on the Bucharest Stock Exchange on the AeRO market, announces the conclusion of a product distribution agreement with one of the most important distributors in Watertown, South Dakota, USA. The distribution agreement covers the South Dakota, North Dakota, and Minnesota regions. Vlad Popescu, President of the Board, ...
ABC Medicover Holdings invests €11 million in Romanian firms
Wednesday, April 10, 2024
ABC Medicover Holdings from the Netherlands increases the share capital of Medicover Hospitals by 48 million lei, by over 8 million lei the capital of Medicover SRL and by over 1.8 million lei the capital of Imocover, according to decisions of the associate, quoted by Economica.net. The money will be invested in advanced technological equipment, the consolidation of work points in the country and the expansion of the activity, Medicover ...
17,400 companies deregistered in first two months of 2024
Wednesday, April 10, 2024
As many as 17,400 companies were deregistered nationally, in the first two months of 2024, by 54.16% more compared to the similar period in 2023, according to the statistics of the National Trade Registry Office (ONRC).Most deregistrations were registered in Bucharest - respectively 2,624 (up by 52.65% compared to January-February 2023) and in the counties of Dambovita (927, +219.66%), Cluj (909, +74.81 %), Timis (684, +30.78%) and Constanta (636, ...
Arctic S.A. changes its corporate name as Beko Romania S.A
Wednesday, April 10, 2024
Arctic S.A., the leader of the home appliances market in Romania, aligns its name with the new global corporate identity and becomes Beko Romania S.A., starting April 2024. This change is an integral part of the renaming process of Arçelik under the international corporate brand Beko. By harnessing the consumer brand Beko’s heritage and innovation, corporate brand Beko gathers employees, operations, and partners alike to strengthen its position as a global leader in ...