Romania | News

The largest bicycle plant in Romania, developed by Sport Mechanical Workshop in Timisoara, will be completed this fall and assemble up to 1.5 million bicycles a year. The only customer of the facility will be French-held sporting goods retailer Decathlon.

Cognizant Softvision, one of the largest tech employers in Romania, based in Cluj-Napoca, intends to hire another 500 programmers by yearend, besides the more than 500 people already hired in the first half of 2021.

Romania’s mergers and acquisitions (M&A) market saw 54 deals in the first half of 2021, compared with 42 deals in the same period in 2020, being estimated at nearly EUR1.2-1.4 billion, taking into account the overall amount of deals with disclosed and undisclosed value, compared with EUR1-EUR1.2 billion in 1H/2020, while deals with disclosed value totaled EUR485 million versus EUR572 million in 1H/2020, per Deloitte data.

Romania’s startup Digital Nation is one of the 13 organizations selected for the 2021 Google.org Impact Challenge for Central and Eastern Europe (CEE), the company said Monday.

Italy's AFV Beltrame Group, one of the largest producers of steel bars and special steels in Europe, will invest EUR300 million to build an eco-friendly rebar and wire rod factory in Romania.

More than 14,000 new vehicles were registered in Romania in June, an increase of 18% on year-ago period, Romania’s General Directorate for Driving Licenses and Car Registration (DRPCIV) data show.

Swiss-held Novartis, one of the largest international pharmaceutical groups, which also has a plant in Romania, Sandoz Targu-Mures, has chosen this country to boost production capacity and create a testing center for drugs that will then be sold throughout Europe.

Video game developer Funcom on Wednesday announced plans to open up a new office in Bucharest (Romania), as its new headquarters for quality assurance.

Scandinavian furniture and home décor retailer JYSK is continuing its expansion in Romania by opening a new store, in the town of Pitesti, reaching a 101-unit network in Romania after 14 years of activity locally.

New loans granted by banks in Romania grew 32% in annual terms in the first four months of the year, to RON34 billion, data from the Romanian banking Association showed Tuesday.

Romania’s banking system numbered 34 banks last year, the same as in 2019, more than half of which with less than 1% market share.

Romania’s retention of its investment-grade rating will depend on the fiscal outlook and policy implementation, Fitch Ratings said in a new report.

There is a lot of room for growth on Romania’s computer and electronics market because some brands are not sold in this country even though they are internationally famous, says Alexandru Stoinea, country head of consumer business with Asbis, a wholesaler of electronics, home appliances and computer products.

CTP, the largest developer and long-term manager of industrial and logistics parks in Romania and Central and Eastern Europe, has decided to speed up construction plans started this year.

Romania, Bulgaria and Poland have the lowest price levels for consumer goods, half the European average, while Denmark, Ireland and Luxembourg have the highest price levels, way above the EU average, data from Eurostat, the statistical office of the European Union, showed Tuesday.

The number of microbreweries in Romania is headed towards 100, after 20 such businesses opened in 2020 and despite the difficult market for small businesses, only three closed.

The top ten companies in Romania with the highest decline in headcount lost almost 9,500 employees in 2020.

Bogdan Chiritoiu on Friday received a favorable opinion from President Klaus Iohannis for a mandate of five more years as President of Romania’s Competition Council.

Japan Tobacco International (JTI), one of the largest cigarette manufacturers in Romania, registered a combined turnover of RON6.3 billion (EUR1.3 billion) in 2020 for JTI Trading and JTI Manufacturing, the two entities through which it operates in Romania, up over 16% from 2019, per data released by company officials in a statement.

Murat Buyukerk, Chief Executive Officer of home appliances manufacturer Arctic, owned by Turkey's Arcelik, which has two plants in Romania, on Wednesday said the company’s future plans target investments in several factories in Romania.