Romania Feed

Startup firm Solmag, which facilitates the connection between companies specialized in installing solar photovoltaic (PV) panels and the future prosumers of renewable energy, announces the launch of the first product of its ecosystem, namely, a solar marketplace, and seeks to attract a EUR500,000 investment in exchange for an ownership stake of 5% in the company, Solmag representatives said in a statement.

Grain and oilseeds trader Soufflet Agro Romania, part of France’s Soufflet Group, posted almost RON340.4 million (EUR69 million) revenue in 2022, an increase of 17.8% on the previous year’s figure of some RON289 million (EUR58.7 million), according to ZF’s calculations based on Finance Ministry data.

Romanian-owned steel pipe distributor Comtech Co posted RON154.4 million (EUR31.3 million) revenue in 2022, an increase of 34.3% on the previous year’s almost RON115 million (EUR23.4 million), ZF has calculated form Finance Ministry data.

The land market in capital city Bucharest has remained active over the past 12 months in terms of acquisitions made by residential, logistics and retail real estate developers by particularly targeting the former industrial platforms within the city, which provide easy access, according to data from real estate consulting firm Cushman & Wakefield Echinox.

Romania has the potential to become one of the most digitalized countries in the region, given that 50 percent of villages can become smart by 2030, according to estimates by the Romanian Smart City Association (ARSC).

The Greenfield Plaza shopping center, developed by real estate developer Impact Developer & Contractor in the Greenfield Baneasa neighborhood, has reached an occupancy rate of 89%.

Local startup Zitamine Nutrition, which developed an algorithm to personalize food supplements for each individual separately, has raised EUR350,000 from three investment funds in Romania – V7 Capital, Cleverage VC and The Mavers Ventures and a number of individual investors from the Bravva Angels community.

Radisson hotel chain will operate a new hotel in capital city Bucharest, which is located within the Central District Lagoon City real estate project developed by local company Forty Management

Nine out of ten employers who participated in the latest survey carried out by online recruitment platform eJobs Romania said they were planning to hire by the end of 2023.

The total trading value of all types of financial instruments listed on the Regulated Market of the Bucharest Stock Exchange (BVB) reached a new record high in the first eight months of 2023 (the January-August period).

SeedBlink, the financing and equity management platform for European tech start-ups, launches "Community Stars" - an initiative dedicated to early-stage start-ups. This new type of opportunity, strategically placed alongside VC-backed rounds and syndications, is aimed at graduating start-ups of technology and business accelerators.

Czech group Packeta, which operates the delivery platform of the same name, has recruitment plans and has announced the opening of 25 new positions in the hubs it owns in Oradea and Bucharest.

Sphere Franchise Group, which holds the franchise for the KFC, Pizza Hut and Taco Bell in Romania, has announced it is implementing a Pizza Hut restaurant network reorganization process given recent declining results.

Furniture maker Ecolor, the local subsidiary of Sweden’s Gyllensvaans Mobiler, for 2022 reported turnover worth RON568.5 million (EUR115.3 million), up 30% from 2021, in line with ZF calculations based on Finance Ministry data.

Airbag manufacturer GST Safety Textiles Ro, the local subsidiary of Germany concern Global Safety Textiles, acquired in 20211 by South Korea’s Hyosung group, for 2022 reported turnover worth around RON492.8 million (EUR99.9 million), up 17% from 2021, in line with ZF calculations based on Finance Ministry data.

Thermal-insulating panel producer Topanel, controlled by a Turkish firm, has earmarked a EUR10 million investment for a new plant, next to the already existing one in Ramnicu Valcea.

Jacobs Douwe Egberts Ro, the local subsidiary of the group of the same name, posted RON526.2 million (EUR106.7 million) revenue in 2022, up 14% from the previous year’s about RON462.5 million (EUR94 million), according to ZF calculations based on Finance Ministry data.

Industrial ventilation equipment manufacturer Ruck Ventilatoare in Tarnaveni, Mures County, posted RON113.5 million (EUR23 million) revenue in 2022, down by about 17% compared with the previous year’s RON137.1 million (EUR27.9 million), according to ZF calculations based on Finance Ministry data.

Textile manufacturer Tanex, which has two plants, one in Bucharest and another in Valenii de Munte, Prahova County, posted RON94 million (about EUR19 million) revenue in 2022, up almost 47% from the previous year’s RON64 million (EUR13 million), according to ZF calculations based on data on the Finance Ministry website.

North Star Support Group (NSSG), a Romania-based risk management services provider with global operations, has received a capital infusion from Avante Corp (Avante), a Canadian security services company.