Romania Feed

Furniture manufacturer Lemet, one of the largest in its business in Romania, seeks to expand its retail chain Lem’s with three or four new stores, operated by franchisees, in 2021.

Robotic process automation startup UiPath, the most valuable tech start-up launched in Romania, targets a valuation of nearly $26 billion in its U.S. initial public offering (IPO), according to a regulatory filing on Monday.

Romania’s energy regulator ANRE has approved the annual investment plans for 2021, worth a total RON1.3 billion, for the system and transmission operator and natural gas distribution operators in Romania

Packaging manufacturer Promateris (PPL.RO), formerly known as Prodplast and held by businessman Florin Pogonaru, has obtained a grant of EUR744,000 from Island, Liechtenstein and Norway in order to develop a new division, Bio Compounds.

Ionut Negoita, one of the biggest residential project developers in capital Bucharest, has bought a ten-hectare land in eastern Bucharest, from pipe maker Tubinox, on the site of the former Republica factory, where he plans to build a residential compound.

Scandinavian fashion retailer Marc O’Polo has opened its first store in northeast Romania, within the Palas Iasi shopping center; the retailer already is present within Iulius Mall Cluj.

Transavia, the largest poultry producer in Romania, held by the Popa family, has reached a combined portfolio value of EUR81 million, higher by EUR8 million than the level in 2020, per the annual report on the most valuable and powerful Romanian brands, carried out by consulting firm Brand Finance.

Romanian state-owned hydropower producer Hidroelectrica proposes the distribution of RON1.3 billion as dividends from its 2020 accounting net profit of RON1.45 billion, which means a distribution rate of 90%, per calculations by Ziarul Financiar from data included in the summoning note released Monday on the company’s website.

Telecom systems integrator Deltatel, based in western city of Timisoara, has accessed a financing of RON5 million from Raiffeisen Bank, which is 90% guaranteed by EximBank, within the COVID-19 state aid scheme intended for large companies.

Counsel Group Frankfurt (CGF), specialized in providing software services and solutions, which owns offices in the cities of Bucharest and Iasi, continues its local expansion and is about to invest EUR700,000 in buying a new office space, of about 400 square meters, in Iasi.

The Romanian capital market is breaking record high after record high this year as investors trading on the Bucharest Stock Exchange (BVB) have contributed to the growth of the market to new all-time highs. Romania’s benchmark index, BET, and its equivalent including dividends, BET-TR, reached new all-time highs at the end of the first quarter this year.

Insolvent fiber optic cable producer Romcab Targu Mures (MCAB.RO) said in a stock market announcement on Monday that Valtecia Development, a company based in Targu-Mures and engrossed in buying and selling own real estate assets, filed a new bankruptcy request for Romcab.

The average net salary in Romania fell 0.9% in nominal terms in February 2021 compared with January 2021, to 3,365 lei (around EUR683), data from the country's statistics board showed Monday.

Roofing manufacturer Wetterbest seeks to expand to new export markets, after having become part of Ireland’s Kingspan group last year, following the sale of the Steel division by TeraPlast.

Germany’s Kaufland group, the leader of the local retail by sales in 2019, according to the latest publicly available data, has a more than EUR375 million investment budget for this year, 25% higher than in 2020 and almost double the 2019 level.

Italy’s De’Longhi beat Arctic for the first time in 2020 and became the leading exporter of home appliances in Romania.

Brasov-based real estate developer Qualis Properties start trading its first bond issue on the Multilateral Trading System (MTS) of the Bucharest Stock Exchange on Friday (April 9), under the ticker symbol QUAL24E.

Rompetrol Well Services (PTR.RO), the oil services division of Rompetrol Group, said in a stock market report Friday that it had received from KMG International NV, as its majority shareholder owing 73% of the share capital, a request completing the Agenda of the Ordinary General Meeting of Shareholders convened on April 26 (27), 2021 regarding the distribution of dividends.

Moody´s Investors Service ("Moody´s") on Friday upgraded to A3 from Baa2 the rating of the mortgage covered bonds issued by Alpha Bank Romania S.A., worth EUR200 million and launched by the lender in 2019.

OMV Petrom (SNP.RO), the largest Romanian oil and gas company, said Thursday in a report its total hydrocarbon production stood at 138,900 boe/day in the first quarter of 2021, down 7.5% compared with the first quarter of 2020.