Romania Feed

Airbag manufacturer GST Safety Textiles Ro, the local subsidiary of Germany concern Global Safety Textiles, acquired in 20211 by South Korea’s Hyosung group, for 2022 reported turnover worth around RON492.8 million (EUR99.9 million), up 17% from 2021, in line with ZF calculations based on Finance Ministry data.

Thermal-insulating panel producer Topanel, controlled by a Turkish firm, has earmarked a EUR10 million investment for a new plant, next to the already existing one in Ramnicu Valcea.

Jacobs Douwe Egberts Ro, the local subsidiary of the group of the same name, posted RON526.2 million (EUR106.7 million) revenue in 2022, up 14% from the previous year’s about RON462.5 million (EUR94 million), according to ZF calculations based on Finance Ministry data.

Industrial ventilation equipment manufacturer Ruck Ventilatoare in Tarnaveni, Mures County, posted RON113.5 million (EUR23 million) revenue in 2022, down by about 17% compared with the previous year’s RON137.1 million (EUR27.9 million), according to ZF calculations based on Finance Ministry data.

Textile manufacturer Tanex, which has two plants, one in Bucharest and another in Valenii de Munte, Prahova County, posted RON94 million (about EUR19 million) revenue in 2022, up almost 47% from the previous year’s RON64 million (EUR13 million), according to ZF calculations based on data on the Finance Ministry website.

North Star Support Group (NSSG), a Romania-based risk management services provider with global operations, has received a capital infusion from Avante Corp (Avante), a Canadian security services company.

Rompetrol Rafinare, a company part of KMG International and owner of Petromidia Navodari and Vega Ploiesti refineries, said in a stock market report on Monday (Sept 25) that Florian Daniel Pop is the company's new General Director.

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 Monday (Sept 25) that it was summoning its shareholders on October 30, 2023, to revoke the company's auditor, BDO Audit SRL, to continue with the new auditor, LionLink Audit, until the end of 2023, and subsequently with KPMG.

Private lending in Romania grew by 5.5% in nominal terms (down 3.6% in real terms) to RON378,75 billion in August 2023 compared to August 2022, central bank data showed on Monday (September 25).

Romania's Finance Ministry raised RON1.8 billion from banks on Monday (September 25), selling government paper in two auctions, at annual average yields of 6.49% and 6.90%.

US premium sound system maker Sonos chose northern Bucharest to open its first store in Romania at the end of last week, as part a plan to expand in the region, a market it sees as having potential.

Infinity Capital Investments has announced in a stock market report that it purchased 60.35 million shares of Electromagnetica (ELMA.RO), electrical equipment and produces electricity, representing 8.927% of the latter's share capital, for which it paid RON10.9 million.

Retail, agribusiness and food group Agroland Business System (AG.RO), which owns the largest farm supply store chain in Romania, reported operating revenue, at consolidated level, of RON189.4 million, for the first half of 2023, up 3% on the year.

AROBS Transilvania Software (AROBS), a Romanian IT company specialized in providing services and software solutions based on the latest technologies, has debuted on Monday (Sept 25) on the Main Market of the stock exchange under the stock symbol AROBS, following its transfer from the AeRO market, the equity segment of the Multilateral Trading System of the Bucharest Stock Exchange.

Romanian healthy snacks startup Unison is launching a public fundraising campaign through technology startup investment platform SeedBlink, part of the round in which VC fund Mavers Ventures and Angel Investors have already participated, according to company representatives.

TeraPlast adopts digitization solutions, and in accordance with the Group-wide strategy, estimates that within a year, 80 percent of its logistics operations processes will be carried out through software that increases efficiency and reduces the necessary delivery times.

iSTYLE, the largest Apple Premium Reseller retail chain in Central and Eastern Europe, expects to end 2023 with a turnover similar to the 2022 level of EUR112 million, up 40% versus the previous year.

ING Bank has revised its growth forecast for Romania in 2023 from its previous estimate of 2.5% to 1.5%, based on a slightly disappointing first half of the year and limited prospects for an acceleration in the second part.

Independent electricity supplier Restart Energy is preparing to go public via a capital increase and seeks to raise tens of millions of euros with it, said Valentin Bargau, VP of Corporate Operations of Restart Energy during a ZF conference.

Building materials maker TeraPlast Bistrita estimates that within a year, 80% of its logistics operations processes will be carried out through software that increases efficiency and reduces the necessary delivery times.