Romania Feed

Real estate developer Element Industrial, controlled by entrepreneur Ionut Dumitrescu, has launched a new project in southern Romania, called ELI Park Braila, which entails total investments worth over EU25 million.

Calin Fusu, co-founder and member of the Executive Board of online furniture and home decor retailer Vivre Deco will be taking over as Chief Executive Officer (CEO) of the retailer, starting October 1, 2021.

An integrated team of transaction professionals of PwC Romania, and D&B David si Baias, the law firm affiliated to PwC in Romania, have provided assistance to the shareholders of Romanian software firm Gemini CAD Systems in the sale of the majority stake to French Lectra Group.

Favisan, a brand created almost three decades ago by female entrepreneur Virginia Faur, exceeded the RON10 million turnover threshold in 2020, from sales of tea and food supplements, per finance ministry data.

Romania's finance ministry on Monday raised RON431 million (EUR87.1 million) selling bonds maturing in February 2029 at an average yield of 3.64%, central bank data showed.

Car parts manufacturer Coindu Romania, part of Portuguese Coindu Group, reported a turnover of RON359.1 million (EUR74.5 million) for 2020, down 28% from nearly RON503.2 million (EUR106.1 million) in 2019, per finance ministry data.

Metaplast, which manufactures plastic parts and accessories for the automotive industry, reported a turnover of RON245.8 million (some EUR51 million) for 2020, down 31% from 2019, per calculations by Ziarul Financiar (ZF) based on finance ministry data.

Romania's current account balance posted a deficit of EUR9.05 billion in January-July 2021, compared with a deficit of EUR5.35 billion in the same period in 2020, central bank data showed Monday.

Crowdfunding platform SeedBlink appointed Carmen Sebe chief executive officer as of September 1. She joined the company as a partner on January 1, 2020.

Polish-held cosmetics retailer Inglot is focusing on its online operations in Romania and will reconsider this market for resuming offline expansion with its own stores no sooner than a year.

Cement manufacturer Romcim (the former CRH Ciment) registered higher revenue and operating profit in Romania, in the first half of 2021, compared with the same period in 2020.

Renault Technologie Roumanie will oversee the implementation of the Duster-3 project, its most complex so far, considering the shift to the new CMF-B platform and its sale in Europe, as well as Russia, Africa and South America.

One United Properties (ONE.RO), one of the most active real estate developers of residential, office and mixed-use projects in capital Bucharest, will distribute dividends in the amount of RON32.5 million, as well as free shares, based on the measures approved by the company’s shareholders at their general meeting of September 10.

Deloitte was recognized, for the third year in a row, as the Central and Eastern European (CEE) Tax Firm of the Year at the 2021 edition of the Europe, Middle East and Africa (EMEA) Tax Awards, organized by the prestigious International Tax Review (ITR) publication. In total, Deloitte won 26 awards across the region, including EMEA Tax Firm of the Year, Tax Innovator of the Year, Tax Technology Provider of the Year, and Compliance and Reporting Firm of the Year. The winners are designated based on reviews conducted by ITR journalists, who focus mainly on the complexity, client impact, scale, and the innovation employed in the projects developed during the past twelve months.

Romanian construction materials producer Soceram Campina has started production at a new autoclaved cellular concrete (ACC) factory, located in Cordun locality (Neamt County), per data on the company’s website.

TeraPlast Group concluded an agreement with Brikston Construction Solutions to take over the polyethylene film production from the manufacturer in Sighisoara.

CTP, the largest developer and manager of Class A logistics and industrial space in Romania, with over 1,850.000 square meters of lettable area, has acquired approximately 112,000 sqm of industrial space from Zacaria Industrial.

Agricultural company Agroland Agribusiness (AAB.RO), part of Agroland Group, on Friday said its turnover grew 33.4% on the year to RON13.3 million in the first half of 2021, and its net profit surged 142% on the year to RON795,116.

The European Bank for Reconstruction and Development (EBRD) and financial and insurance group Eurohold Bulgaria, the owner of Euroins Insurance Group AD (EIG), have signed an agreement whereby the EBRD acquires a minority stake in EIG, the holding company consolidating Еurohold's insurance operations.

Romania held a total stock of modern industrial and logistics spaces of 5.3 million square meters at end-2020, and developers have pledged over 800,000 square metres of new warehouses in 2021, which should drive the overall stock to 6 million square metres.