Romania Feed

Cargus, a major player on Romania’s courier services market, has announced the appointment of Mircea Andriescu as Head of International Sales.

Infinity Capital Investments has informed investors and shareholders in a stock market report on October 18 that it participated in the share capital increase of the subsidiary, Gravity Capital Investments, by subscribing a number of 2.25 million shares, with a nominal value of RON10 per share, for which it paid RON22.5 million.

Aluminum producer Alro (ALR.RO) has signed a multi-annual agreement with Airbus, a leading aircraft manufacturer, the company announced.

Electrical power producer Hidroelectrica (H2O.RO) has decided to appoint Cristian Nicolae Stoina provisional member of its Supervisory Board starting October 18 until the convening of the first General Meeting of Shareholders but no more than four months, Hidroelectrica said in a statement to the Bucharest Stock Exchange.

Romanian-held walnut kernel processor Transilvania Nuts is now getting half of its revenue from exports and therefore plans to expand to export more.

Clothing retailer Modivo, part of the Polish CCC group, which owns the footwear brand of the same name, epantofi stores and HalfPrice, a low-cost fashion retailer active in the outlet segment, has opened its third store in Romania. The new 400 square-meter store will operate in Promenada Craiova and is Modivo’s first in the country located outside Bucharest, where it has two stores in AFI Cotroceni and Mega Mall.

Kromberg & Schubert Romania NA, a manufacturer of wiring for the automotive industry and electrical systems and the local subsidiary of Germany’s Kromberg & Schubert Group, posted RON176.2 million (EUR35.7 million) revenue in 2022, up 24.6% on the previous year’s RON141.4 million (EUR28.7 million), according to ZF calculations based on Finance Ministry data.

Israeli real estate developer AFI Europe will be opening on Nov 1, 2023 its first retail park in Romania, located in the center of the western city of Arad.

SIF Muntenia, managed by Muntenia Invest, on October 16 reduced its ownership stake in BRK Financial Group (BRK.RO), the only stockbroker listed on the Bucharest Stock Exchange, to 2.49% from 18.33%, BRK Financial Group has informed investors in a stock market report.

Meta Estate Trust (MET.RO), a holding company operating in the real estate field, informed the shareholders and the market in a stock market report on October 17 that it had completed the purchase of five apartments and three parking spaces in the Parcului 20 by Cordia residential complex.

Online retailer eMAG is launching a new online shop-in-shop, which is dedicated to nutrition and groups more than 31,000 products from the own offer and that of sellers present on the online commerce platform Marketplace.

Romania’s government will revise the 2023 economic forecast downwards but stick with an over 2% growth, more optimistic than that of international institutions like the World Bank or the International Monetary Fund, sources from institutions involved in drafting the forecasts said.

Despite many challenges faced by the retail market the industry shows a great evolution, as per the Turnover Retail 2023 market study powered by CBRE, the global and national leader in commercial real estate services and investments.

Real estate developer STC Partners has completed structural works for phase 1 of housing project Quartier Azuga, located in Doamna Ghica area of Bucharest, and expects apartments to be delivered in the third quarter of 2024.

Yildiz Entegre Romania, part of the Turkish group of the same name that operated the MDF plant of Oarja, Arges county, ended 2022 with turnover worth RON723.1 million (EUR146.6 million), up 23.5% from 2021, in line with ZF calculations based on Finance Ministry data.

Adidas Romania, part of German group Adidas, has opened a 542-sqm outlet in the outer area of Promenada Craiova mall, thus reaching a seven-unit network locally.

Romanians spent EUR2.5 billion on foreign trips this summer, up 19% from last summer, in line with ZF calculations based on NBR data. The sum is double the one registered in the summer of 2019.

Hello Holidays’s 2023 results mark a 200% increase from 2019, the year before the Covid-19 pandemic, which pummeled tourism.

Real estate developer One United Properties (ONE.RO) has informed the capital market that One Proiect 16, a subsidiary fully owned by One United Properties, concluded a sale and purchase pre-agreement for the acquisition of several plots of land located in capital city Bucharest, for a total price of EUR17 million, the developer said in a stock market report on Monday (October 16).

Romania's national grid company Transelectrica (TEL.RO) announced in a stock market on Oct 16 the signing of a memorandum of understanding (MoU) to perform a feasibility study for the construction of a high-voltage direct current (HVDC) transmission line and conversion stations on the territory of Romania.