Romania Feed

Aluminum producer Alro Slatina (ALR.RO), one of the largest vertically integrated aluminum smelters in Europe and the biggest electricity consumer in Romania, is set to submit the decision to temporarily half the alumina production activities of Alum Tulcea for an estimated 17 month-period to the General Assembly of Shareholders meeting of July 29, for approval.

Cisco Systems Romania, the local subsidiary of the US giant of the same name, reported turnover worth RON69 million (EUR14 million) in 2021, down 3% from the previous year.

Hervis, a major player in sporting goods retail, with a network of around 40 units, has refurbished two stores since the start of 2022 and is remodeling a third one. The company is also due to open a store in Slatina.

Dan Dodita, CEO of furniture producer Spectral Mobila of Barlad, Vasliu county, says the company saw its turnover go up by 20% in the first five months of 2022 against the same period of 2021, in line with levels budgeted in early 2022.

River transport company Trading Line Group, majority held by Paul Ivanov, is set to invest EUR50 million to boost its vessel fleet.

Verdino, a startup co-founded by entrepreneurs Raul Ciurtin and Eberhart Raducanu, which makes pea protein-based foods, has attracted a new funding round from its already existent shareholders.

One United Properties, the most dynamic real estate developer in Romania, is considering selling One Herastrau Office building of Bucharest’s Aviatiei area, with this being valued at EUR23-25 million.

Hidroelectrica, Romania's largest state-owned energy producer, ended the first half with a 3 TWh decrease in energy production compared with last year when the company injected more than 10 TWh into the system.

Avram Iancu International Airport in Cluj-Napoca registered more than 1 million passengers in the first half of this year and expects 3 million passengers next year.

Avram Iancu International Airport in Cluj-Napoca registered more than 1 million passengers in the first half of this year and expects 3 million passengers next year.

Ana Hotels, a company owned by businessman George Copos, has signed a new management contract for the Athénée Palace hotel in central Bucharest, which will come under the InterContinental brand.

Romania’s competition watchdog has greenlighted the deal whereby Paval Holding, the special purpose vehicle of brothers Adrian and Dragos Paval, owners of DIY retailer Dedeman, bought into Farmacia Tei and Bebetei Investments Group.

The assets of the three non-bank financial markets in Romania – the insurance market, the private pension market and the capital market doubled from 2014 through the end of 2021, the Financial Supervisory Authority (ASF) report on the non-bank financial market stability says.

SII Romania, specialized in IT services and solutions, ended fiscal year April 2021-March 2022 with EUR19 million turnover, up 48% from the previous period, according to the company’s officials.

OLX, the largest online classifieds platform in Romania, for 2021 reported RON206.5 million (EUR41.9 million) turnover, up 36% on the year, in line with Finance Ministry data.

Prodal 94, a major producer on Romania’s spirits market, controlled by Iranian businessmen Jabbar Kanani and Bagher Karimzadeh, ended 2021 with RON116.5 million turnover, 54% higher than in 2020, in line with information provided by the company’s representatives.

Hochland Romania, a top five dairy producer in Romania, generated turnover of RON556 million (over EUR115 million), up 12% in lei on the year.

Targu-Mures-based Nova Vita hospital, a top ten hospital unit by the number of beds, a business founded by entrepreneur Virgil Mailat, has budgeted RON40 million turnover in 2022, up 22% from 2020, in line with company data.

Selgros will not open any new units this year, with the company’s investments set to be directed to retooling the existent stores.

Bucharest’s Radisson Blu Hotel will have 200 additional rooms by end-2023, so that the entire compound made up of Radisson Blu and Park Inn by Radisson Hotel & Residence Bucharest will comprise around 860 rooms, in line with data provided by the company’s representatives.