Romania Feed

Liberty Galati, the largest integrated steel producer in Romania, continues its strategy to expand its portfolio of high value-added products and increase production flexibility and profitability, by starting the installation of a new modern accelerated cooling unit at its Heavy Plate Mill.

Romania ranks last in the EU when it comes to packaging waste recycling, with the percentage dropping in 2020 to 39%, almost 5% less than in 2019, in line with the latest European statistical data cited by Clean Recycle.

Stay Fit Gym, Romania’s second biggest fitness center chain, has reached 21 units locally after the company has in the past 18 months managed to triple the number of launches in the wake of Morphosis Capital entering its shareholding structure.

The building of former Odeon theatre of Galati, an iconic building of the city, has been put up for sale at the price of EUR690,000, with the auction being organized by Romania Sotheby’s International Realty.

US company Lockheed Martin, which produces Black Hawk helicopters and F-16 and F-35 aircraft, together with Aerostar Bacau, will open an MRO center for Black Hawk in Romania, in Bacau.

With four days of Hidroelectrica's (H2O.RO) initial public offering on the Stock Exchange already over and four more remaining, as it is scheduled to close on July 4, unless Fondul Proprietatea decides to close it early, the small investors' tranche is 82% oversubscribed, Ziarul Financiar has calculated.

The ten best performing local bond funds between May 2022 and May 2023 delivered to investors yields of 5%, as the case of FDI Globinvest Bonds, to 11.78% for Goldman Sachs Romania RON Bond, in line with data aggregated by Ziarul Financiar (ZF) daily from the Bucharest Stock Exchange.

DIY retailer Leroy Merlin will open its 21st store in Romania and the first in Arad in the AFI Arad project developed by AFI Europe on July 7.

Romania's central bank reported a profit of RON1.08 billion for 2022, lower by 46.3% than the level reported in 2021.

A percentage of 15-20% Romanians frequently utilize purchases in instalments either at point of sale in store or at check-out when purchasing online, or post-purchase.

Romania’s general consolidated budget posted a deficit of RON37 billion in January-May 2023, or 2.3% of gross domestic product (GDP), as compared to a budget gap of RON21 billion in the same period of 2022, the finance ministry said on Thursday (June 28).

Law firm RTPR has assisted private equity fund SARMIS Capital in relation to the acquisition of a majority stake in BMF Grup, the largest integrated facility management company on the Romanian market.

Romania's media market kept growing in 2022, but at a slower pace, of just 9%, reaching a net value estimated at EUR657 million, in line with the Media Fact Book annual report conducted by media agency Initiative Romania, the only report analyzing the Romanian media and advertising market.

Eight out of ten companies in Romania expect a high or very high impact of national and European circular economy regulations, on a short and medium term, and 70% estimate that state subsidies are not sufficient, according to Deloitte report “Circular Economy. The perception and stage of implementation in Romania”, conducted among companies on the local market, from the manufacturing, retail, consumer goods, construction and real estate industries.

Financial analysts part of CFA Romania association estimate the Romanian currency will decline to an average exchange rate of 5.0719 units per euro in the next 12 months, while the anticipated rate of inflation will reach an average value of 7.73%, the lowest level since March 2022.

Romanian executives for June-August 2023 estimate increasing activity in constructions and retail, in parallel with rising prices in the two fields, while headcount in industry and services will remain relatively flat, in line with a survey by the country’s statistics board INS.

Group of firms Kosarom aims to invest RON15 million in 2023, compared to RON11.5 million in 2022. Investments are mainly meant to boost production cost efficiency and develop the store network.

Biodegradable packaging maker Exonia Holding plans to invest EUR7.5 million in a plant in Hunedoara county, partially funded via the Just Transition Mechanism, explained Tiberiu Stoian, CEO and majority stakeholder in the company.

Cargus, a major courier services company on the Romanian market, has budgeted a 12% revenue increase for 2023. According to its CEO Yannis Mooijman, the company is also readying for expansion to several European countries.

German-held fashion and home products discount retailer Kik, which entered the Romanian market almost five years ago, posted more than RON250 million sales in 2022, up 36% from 2021, Finance Ministry data show.