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Competition Council authorizes takeover of Stratum Energy Romania by Emma Lambda Ltd
Wednesday, April 24, 2024
The Competition Council authorized the transaction by which Emma Lambda Ltd, Cyprus, intends to take over Stratum Energy Romania LLC, USA, together with Stratum Energy Romania LLC Wilmington, Bucharest branch and its subsidies, according to a press release of the competition authority. According to the institution, Emma Lambda is part of Emma Group, active in the energy sector, gambling, ...
Aktor: 1.3 billion euro projects in Romania
Wednesday, April 24, 2024
Aktor infrastructure building company, a part of the Greek group Intrakat, has projects of 1.3 billion euros Aktor infrastructure building company, a part of the Greek group Intrakat, has projects of 1.3 billion euros in Romania. Company CEO hopes for a doubling of their value in the years to come, so that Aktor Romania may reach the same level as Aktor ...
World Class Romania announces EUR 25 M investments in revamping location countrywide
Wednesday, April 24, 2024
World Class has announced investments of over 25 million euros in the modernization of existing clubs and the opening of new premium clubs and pools nationwide. The network aims to surpass the milestone of 100,000 active members in the next year and grow from 45 to over 65 health &fitness clubs by the end of 2027. “World Class plans to continue to grow the premium health and fitness ...
IMOTECA expands portfolio in Romania, extends operations into Spain
Wednesday, April 24, 2024
Imoteca – The residential experts – announces a significant expansion of its portfolio in Romania and the launch of consultancy and sales operations for the real estate market in Spain. In 2024, Imoteca strengthens its position in the real estate market in Romania with an additional 9 projects, adding to a portfolio of nearly 30 projects over two decades of activity in the Romanian ...
PayPoint and FAN Courier announce the expansion of their partnership
Wednesday, April 24, 2024
PayPoint Romania announces the expansion of its partnership with the local courier market leader, FAN Courier, in the parcel delivery segment through the PayPoint Colet Expres service. Thus, from now on, consumers can also deliver to selected PayPoint partner stores the parcels they want to send or return, through the service offered by FAN Courier. Currently, there are more than 3,000 PayPoint Colet Expres stores available nationwide and the number is ...
MK Merchants enters Romania
Wednesday, April 24, 2024
The international grain trader MK Merchants, headquartered in Geneva, Switzerland, has entered Romania, with a focus on sourcing products from the local market and delivering them to export destinations, says a press release by the group. Iulian Avram has been appointed as the General Manager to lead the branch. He previously worked for Al Dahra, a leading grain trader in the Middle East with an annual ...
Antibiotice Iasi reports 24% increase in 2023 turnover
Wednesday, April 24, 2024
Medicine maker Antibiotice Iasi reported a 24% increase in net turnover on the domestic and international market, from 484 million RON (2022) up to 601 million RON in 2023, and a net profit of 82.2 million RON, higher than the previous year, according to a company's release."From the total turnover related to 2023, the value of sales on the Romanian market was 382.4 million RON, 28% higher compared to the value achieved in the previous year. The ...
Bosch opens second office building in Cluj Engineering Center
Wednesday, April 24, 2024
Bosch inaugurated the second office building built within the Engineering Center in Cluj, following an investment of approximately 21 million euros, over a period of three years. The total investment, started in 2017, in the two buildings of the center in Cluj amounts to over 50 million euros. The new building, whose construction began in March 2021, has a built-up area of approximately 10,000 ...
Temu and Shein under Consumer Protection review in Romania ?
Wednesday, April 24, 2024
The National Authority for Consumer Protection (ANPC) announced on Tuesday that it is checking the Chinese online trading platforms Temu and Shein, and recommends that Romanians inform themselves before buying products from the two sites. The National Consumer Protection wants to check possible “incorrect commercial practices of traders in the relationship with ...
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 ...