Romania Feed

The shareholders of Romanian cable maker Iproeb Bistrita (IPRU.RO) have approved at their latest general meeting a decision allowing the company to contract bank loans in the amount of EUR5.4 million.

Connections Consult, a group of companies specialized in providing software solutions and IT services, announced in a stock market report on Sept 6 the signing of a contract of RON56.5 million (plus VAT) with a public institution / governmental authority for the delivery of software products and cyber security hardware equipment.

Bittnet Systems (BNET.RO), an IT&C solutions integrator and provider of training services in the IT sector, said in a stock market report on Wednesday (Sept 6) that Dendrio Solutions, part of the Bittnet Group, signed two contracts with a client operating in the national defense sector.

Fuchs Condimente Romania, the leader of the local spices and food ingredients market, part of Germany's Fuchs Group, has announced an investment of EUR14 million in the expansion of its factory in Curtea de Arges.

AROBS Transilvania Software (AROBS.RO), the biggest tech company listed on the Bucharest Stock Exchange, has informed shareholders that in the meeting held on September 5, 2023, the Board of the Romanian Financial Supervisory Authority approved the company's prospectus for admission to trading on the Regulated Market, administered by the Bucharest Stock Exchange.

Romanian producer of organic farming inputs Norofert (NRF.RO) has announced its shareholders in a stock market report about the early closing of a loan for Plafon Multiprodus - Monocompanie from Exim Banca Romaneasca in the amount of EUR2 million with 10% cash collateral as a guarantee.

Hosiery manufacturer Ciserom in Sebes, Alba County, posted over RON19 million (EUR3.8 million) revenue in 2022, up 4.7% on the previous year, according to ZF calculations based on Finance Ministry data.

The members of TechAngels, the largest group of angel-type investors in Romania, invested EUR1,013,000 in technology startups in the first half of 2023, which represents only a third of the investments carried out in the same period of 2022, considering that caution was the key word for investors both domestically and globally.

The asking prices of old three-room apartments in Bucharest increased in August after a slight decline in July.

Business software developer Wizrom Software ended 2022 with more than EUR1.37 million revenue, an increase of over 8% year-on-year, Finance Ministry data show.

Retail sales volume in Romania (excluding the trade with motor vehicles and motorcycles) inched up 0.7% in unadjusted data and grew 1.2% when adjusted for seasonality and number of working days, in July 2023 compared to July 2022, data from the country’s statistics institute INS showed on Wednesday (Sept 6).

Small modular reactors (SMRs) can be the answer to the cheap and secure energy dilemma as they are more flexible than large-scale reactors, are easy to locate next to large industrial consumers and can replace district heating that pollutes from coal and gas, Romania's Energy Minister Sebastian Burduja said during the US-Romania Economic Forum organized by AmCham Romania.

Renovation Solar, a company part of Renovatio group, a major player in Romania’s solar energy and green technology, has recently completed a 400 kWp photovoltaic project for logistics company KLG Europe Logistics Romania.

Edtech startup Ascendia in the first half of this year registered operating revenues of RON6.2 million, double the level of the year-earlier period, and net profit of RON730,000, from RON473.588 losses in the first half of 2022.

Vending machine operator O’Fresh Vending Solutions, in which investment fund Integral Venture Partners has recently bought a majority stake, wants to double or even triple its business in five years, both via direct development and acquisitions, local and regional ones.

International Lazar, a freight forwarding company controlled by entrepreneur Ion Lazarus, ended the first half of this year with a 10%-12% decline in revenue, amid lower demand for freight forwarding, its officials say.

Belor Romania, part of Germany’s Belor Eurofert GmbH, ended 2022 with a turnover of RON459.8 million (EUR93.2 million), up 13.3% from RON405.9 million (EUR82.5 million) reported for 2021, as per finance ministry data.

Polish fashion retailer Modivo has opened its second store in Romania and in capital city Bucharest, which covers an area of 400 square meters and is located in the AFI Cotroceni shopping mall.

Philip Morris International (PMI), one of the largest manufacturers of cigarettes and IQOS heated tobacco products, will invest $130 million in its plant in Otopeni, near Bucharest, Romania, by the end of 2024, its officials announced at the 30th anniversary of its presence in this country.

E.ON Group carried out investments of RON654 million (some EUR133 million) in Romania in 2022, which targeted the expansion and modernization of natural gas and electricity networks in order to meet the needs of the energy transition, to boost networks' capacity to connect new sources of renewable sources, as well as to stimulate the digitalization of services, as per the annual sustainability report.