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Companies
KÉSZ Enters The Romanian Residential Market
Wednesday, February 28, 2024
KESZ Group has selected Fortim Trusted Advisors, company specialized in consulting and real estate management, as the exclusive agent for Corallis, the first own residential project developed in Romania. “Kesz Romania is well-known as one of the most competitive builders on the market, being involved in several successful premium projects, including retail, ...
Microsoft Eyes To Hire 400 People In Romania
Wednesday, February 28, 2024
Microsoft aims to hire more than 400 people this year, announced Bogdan Putinica, the general director of Microsoft Romania. The manager said that the main reason for hiring is Romania’s economic potential. “In France, if you want to hire 400 people, it’s much more difficult. You need 5 years to reach this figure,” said the ...
Cugir Mechanical Plant To Hire For 50% Increase In Ammunition Production
Wednesday, February 21, 2024
The Mechanical Plant in Cugir intends to hire “urgently” 88 people, in order to be able to honor a series of new contracts for the supply of ammunition. The factory must increase monthly production by 50%, from 500,000 pieces to 750,000 pieces of ammunition, according to a memorandum on the agenda of the Government ...
Dealmaking in CEE held up strongly in 2023 – a testament to the region’s maturity as an attractive M&A destination
Wednesday, February 21, 2024
Against a backdrop of falling global M&A activity, dealmaking in Central and Eastern Europe (CEE) held up relatively well. The number of transactions in the region in 2023 equals 1,097. The total value of M&A activity reaches €37.3bn, according to the reported data and taking into account the criteria set out in the methodology. Romania is increasingly catching ...
ARTROM STEEL TUBES invests more than six million euros in 2024 to accelerate decarbonisation
Wednesday, February 21, 2024
Artom Steel Tubes, one of Europe's leading pipe manufacturers with operations in Resi?a and Slatina in Romania, announces investments of more than six million euros in 2024 to optimise measures to reduce carbon emissions and fuel consumption. To this end, it has partnered with a number of established suppliers to the European metalworking industry, which will ensure the re-engineering of certain production processes. “Over ...
Pepsi Max changes its name to Pepsi Zero: new design, same taste!
Wednesday, February 21, 2024
PepsiCo, one of the leaders in the food and beverage industry, announces a name change for one of the most popular soft drinks in its portfolio: Pepsi Max now becomes Pepsi Zero Sugar. It's a perfect drink for those who want to enjoy a refreshing experience without consuming sugar. "We listened to our consumers and understood that they want more direct and transparent communication about the products they consume. With this change, we're focusing on ...
PepsiCo Romania appoints a new director to lead the Organized Trade division
Wednesday, February 21, 2024
PepsiCo Romania, one of the leaders in the food and beverage industry, announces the appointment of Alexandra Ristariu as Organized Trade Director. Alexandra will report to Radu Berevoescu, General Manager and Senior Commercial Director East Balkans. With an impressive career extend over 15 years in the fast-moving consumer goods (FMCG) industry, Alexandra Ristariu has held various roles and managed ...
Competition Council analysing SD Worx People Solutions NV taking over Romanian Software
Wednesday, February 21, 2024
The Competition Council is analysing the operation by which SD Worx People Solutions NV intends to take over Romanian Software.According to a press release the competition authority sent on Friday, SD Worx People Solutions NV is a provider of intelligent software solutions for the human resources component, in particular for the management and payroll of personnel in companies worldwide.Romanian Software is a technology company providing software services for ...
US Software Company TaxDome Enters The Romanian Market
Wednesday, February 21, 2024
TaxDome, an American provider of practice management solutions for tax and accounting professionals, enters the Romanian market, as the local business landscape indicates accelerated growth and considerable progress in digitalization. With a strong presence in the United States and a powerful international footprint, TaxDome brings its innovative platform to serve the needs of tax and accounting firms in Romania. With a portfolio of 10,000 clients, ...
Four New Companies Listed On The Bucharest Stock Exchange
Wednesday, February 21, 2024
Romania’s equity market presence in the MSCI indices will increase to 26 companies from 1st of March 2024, following the quarterly index review conducted by global index provider MSCI in February this year. According to the announcement, Romania will have four new companies listed in the MSCI Frontier IMI and MSCI Romania IMI indices in the small cap category. They are: 2B ...
Flanco Acquires Land For Store Construction
Wednesday, February 21, 2024
Flanco announced the acquisition of its first two real estate projects for new greenfield stores. They are located in commercial areas of Botosani and Brasov and were purchased in the last six months, each with an area of 5,000 square meters. “Starting this year, we are also interested in real estate acquisitions, in order to build Flanco stores from scratch, adapted to our needs ...
Net profit of RON 232.26 million for Transilvania Investments in 2023
Wednesday, February 21, 2024
Transilvania Investments recorded at 31.12.2023 a net profit worth RON 232.26 million, according to the preliminary financial results, unaudited. The profit is 264.5% higher compared to the previous year, this being the best result achieved in the last 5 years. The net income, totalling RON 279.16 million at the end of 2023, is 205.6% higher compared to the income afferent to the previous year. On 31 December 2023, the Company’s total assets are worth RON ...
Christian Tour, Green Light To Buy AnimaWings From Aegean Airline
Wednesday, February 21, 2024
Christian Tour, which launched its own airline in 2020, of which Greeks from Aegean Airlines took over 51% two years ago, has the green light from the Competition Council to take over the company, AnimaWings. Christian Tour Holding S.A. received the green light from the Competition Council for the acquisition of the majority stake of 51% in the company AnimaWings Aviation S.A. formerly owned by Aegean Airlines. Thus, the airline AnimaWings becomes ...
The number of companies that have suspended their activity increased by more than 4% in 2023
Wednesday, February 14, 2024
The number of companies that suspended their activity in 2023 was 16,335, up 4.04% compared to the previous year, according to data published by the National Trade Registry Office (ONRC). Most companies that suspended their activity were from Bucharest, namely 1,979 (up 13.61% compared to 2022), the capital being followed by Cluj county, with 1,057 suspended companies (up 30.17%), Iasi - 739 (up 7.41%), Brasov - 722 (up 2.27%) and ...
ONRC: 6,650 firms and PFAs went into insolvency in 2023
Wednesday, February 14, 2024
The number of the companies and authorised natural persons (PFA) that went into insolvency last year was 6,650, up by only 0.02% against 2022, when there were 6,649 insolvencies registered, according to the data published on the site of the National Trade Registry Office (ONRC).Most companies and authorised natural persons getting into insolvency were registered in Bucharest, namely 1,289, up by 11.8% against the period January – ...
CITR: About 6,650 insolvent companies in 2023, as in 2022
Wednesday, February 14, 2024
The number of companies using insolvency procedures in 2023 remained the same as in 2022, that is 6,650, said CITR, the leader of the insolvency and restructuring market in Romania announced on Thursday in a press release. Of them, 89 are impact companies, with active stock of 1 million euros, cmpared to 67 the previous year. As for the number of restructuring actions through preventive arrangement with creditors procedure, there were 90 applications ...
TeraPlast Group sees 5 pct drop in 2023 turnover, yet net profit remains in positive territory
Wednesday, February 14, 2024
Teraplast Group's consolidated turnover in the financial year 2023 was RON 672 million, down 5 percent from the year before, mainly as an effect of the significant drop in the result of the Granules division. The net profit remained in positive territory, at RON 1.1 million, despite the year-end specific seasonality, the company said in a release on Monday.Exports accounted for 16 percent of the turnover, and TeraPlast Group products reached 22 countries in Europe, ...
Lowe Group Has New Chief Financial Officer
Wednesday, February 14, 2024
Lowe Group, the marketing and communication group, is strengthening its top management team by appointing Florina Varzariu as Chief Financial Officer. In her new role, Florina will oversee the financial, legal, and commercial teams, contributing to the development of strategic directions and identifying new growth opportunities for the group’s agencies. “We are thrilled to strengthen our team and welcome ...
Mazars announces another year of record revenues as it builds global ambition
Wednesday, February 14, 2024
Third consecutive year of double-digit fee income growth achieved across all service lines. 13.3% year-on-year organic growth, demonstrating the resilience and adaptability Mazars has built through its integrated partnership model operating in over 100 countries and territories. Revenue contributions of 43% audit and 57% non-audit emphasise the balance and strength of the firm’s multidisciplinary ...
Sigma CVM Romania and SKY Agriculture Announce Strategic Partnership
Wednesday, February 14, 2024
Sigma CVM Romania, a leading provider of agricultural solutions, announces its partnership with SKY Agriculture, the dynamic French group undergoing a transformative evolution to shape the future of European agriculture. Under the visionary leadership of Julien Burel, Group Chairman, SKY Agriculture has emerged as a key player in the industry. The group’s commitment to innovation and sustainability aligns seamlessly with Sigma CVM Romania’s mission to ...