Romania Feed

Electromontaj Group has won a contract with the Finnish national electricity transmission operator, Fingrid, for the construction of a new high-voltage line on the territory of Finland.

Law firm Musat & Asociatii has advised Adesgo, Romania’s largest hose manufacturer, on the sale of its seamless lingerie manufacturing and commercialization business to Tefron Europe, a subsidiary of Israeli's Tefron Group, a developer and manufacturer of seamless garments.

Trucking company Dolo Trans Olimp (DTO), controlled by entrepreneur Cristian Dolofan, ended 2022 with a turnover of RON581 million, compared to RON407 million in 2021, as per finance ministry data.

Romania's finance ministry has attracted RON758.2 million and EUR329.1 million (values amounting to around RON2.4 million – EUR483 million), through the 12th primary offer for sale of government securities for the individual investors (FIDELIS) carried out in the last four years through the Bucharest Stock Exchange’s systems.

5 to go coffee shop chain has in 2023 signed around 13 franchise contracts per month, adding 64 units, while turnover generated in the first half is 55% higher than the 1H/2022 one.

BRD-SocGen, the third largest bank locally by assets, in the first half of this year posted net profit worth RON768 million at group level, up 24.4% from the year-earlier period, while revenues rose by 13.4% on the year, to RON1.86 billion.

Online store Complice.ro, which specializes in selling experience-based gifts, estimates it will reach the EUR500,000 threshold in terms of turnover this year, after having raked in EUR250,000 revenues in the first half, 53% higher than in the year-earlier period.

Electronic parts producer Plexus Services Ro, the local subsidiary of US group Plexus, in 2022 posted turnover worth RON1.089 billion (EUR221 million), up 29% from 2021, in line with ZF calculations based on Finance Ministry data.

Monsanto, one of the largest producers of pesticides and genetically modified crops, in 2022 generated turnover worth RON730 million (around EUR150 million), 32% higher than in 2021.

BRD, the second largest bank at the Bucharest Stock Exchange (RON10.2 billion) and the third largest bank by assets (RON71.5 billion in 2022), announced in a stock market report Wednesday evening that its Chief Executive Officer (CEO), François Bloch, decided to renounce his mandate starting September 26, 2023 in order to pursue a new opportunity within the Societe Generale Group.

Signal Iduna companies registered a volume of underwritten gross premiums of over RON200 million in the first half of 2023, up 34% from the year-earlier period.

The Jimmy Key company from Turkey, with over 30 years of experience in womenswear, will open the first store in Romania, within the ParkLake Shopping Center in Bucharest, developed by Sonae Sierra.

Décor retail chain Homelux, owned by entrepreneur Omer Susli, has opened a new store this week, within the River Plaza Mall shopping center in Ramnicu Valcea.

Law firm Filip & Company has assisted RCS & RDS and the subsidiary DIGI Spain Telecom S.L.U in contracting a term loan in the amount of EUR100 million, over a four-year period; ING Bank N.V. and Banco Santander acted as mandated lead arrangers.

Distributie Energie Electrica Romania (DEER), a member company of the Electrica Group, has managed to achieve 99.8% of the investment plans undertaken for 2022, according to Mihaela Suciu, General Manager of DEER.

Klarna, the AI-powered global payments network and shopping destination, has unveiled the results of a survey focused on GenZ and Millennials’ shopping habits, showing that 93% of GenZ and 83% of Millennials shop online at least once a month.

Romania's industrial production prices for the total (domestic market and non–domestic market) increased by 3.8% in June 2023 compared to June 2022, data from Romania’s National Statistics Institute INS showed on Wednesday (August 2, 2023).

Romanian authorities seized more than 80 million contraband cigarettes with a market value of over RON65 million (EUR13 million) in January-July 2023, according to data centralized on www.stopcontrabanda.ro, the only real-time centralizer of contraband cigarette seizures in Romania.

New car registrations in Romania increased by 23% on the year to a total 87,275 units in January-July 2023, data from the association of automotive manufacturers in Romania (ACAROM) showed on Wednesday (August 2).

The European Bank for Reconstruction and Development (EBRD), the Bucharest Stock Exchange (BVB), and VERTIK have selected three companies to participate in the "Investor Relations and Liquidity Support Program" launched in Romania earlier 2023 and expected to conclude at the beginning of 2024.