Romania Feed

Rio Bucovina, a distributor of non-alcoholic beverages and food products, part of the Polish group Maspex, posted RON143 million (EUR29 million) revenue in 2022, up 21% from the previous year, ZF has calculated from Finance Ministry data.

Sennheiser International Manufacturing GMBH, the Romanian branch of German headphones and audio systems manufacturer Sennheiser, posted RON322.6 million revenue in 2022, almost RON1 million more than in 2021, Finance Ministry data show.

SIF Oltenia (SIF5.RO) has announced in a stock market report on Wednesday (June 14) that it will organize a new round of public auction on June 21, 2023 in order to sell a package of 39,628 shares held in Elba, a Timisoara-based lighting fixtures and systems manufacturer which supplies headlights for Dacia-Renault and Skoda.

Pillar II pension fund BRD Pensii, which has a 4% market share, was the most active of the seven such funds in Romania in April, buying more stock in five companies listed on the Bucharest Stock Exchange (BVB.RO), Ziarul Financiar has found.

The Board of Directors of TeraPlast Bistrita (TRP.RO) has decided to extend the term of office as Chief Financial Officer (CFO) of Ioana Birta for four more years, until September 2027, the company announced in a stock market report on Wednesday (June 14).

Germany’s Kärcher, which owns two local vacuum cleaner plants in Romania in Curtea de Arges, is investing EUR20 million in the development of local production.

The Belis-Fantanele Hotel in Cluj County, owned by Transilvania Trek, will be operated under the Hampton by Hilton brand on the basis of a franchise contract.

Winemaker Purcari Wineries (WINE.RO) on Wednesday (June 14) informed investors in a stock market report about continuing its efforts in sustainability by extending its photovoltaic system located at Purcari Winery and installing a new system on the premises of Bostavan Winery.

Undelucram.ro, the largest online community of employees in Romania, has closed a financing round of EUR1 million and the funds will be used for further expansion in Central and Eastern Europe (CEE), Asia and Africa.

Speedwell, one of the most active real estate developers on the local market, has purchased a new plot of land in the city of Timisoara (western Romania), where it aims to start the construction of its second mixed-use project in the city.

The economic outlook remains closely linked to inflation trends and to the response of central banks, and forecasts are subject to a number of downside risks, including the supply of energy and credit, according to Coface Country And Sector Risk Barometer.

The new digital fiscal reporting requirements, implemented by the Central European countries, will lead to more efficient tax audits over the next three to five years, 75% of companies estimate, but it will also provide authorities with more direct access to the taxpayers financial and accounting IT systems (62%), as per Deloitte Central Europe Tax Technology Report, conducted in 15 countries in the region, including Romania.

Electricity distribution company Distributie Oltenia continues to implement its investment and modernization plan for the electric power distribution network of Dolj County.

Romania’s industrial production decreased by 7.1% in unadjusted data in April 2023 versus April 2022 due to drops reported for the manufacturing industry (-8%) and for the electricity, gas, steam and air conditioning production and supply (-4.1%), data from the country’s statistics board INS showed on Wednesday (June 14, 2023).

Local company TARA Interactive, specialized in software development, is currently devising an application for the US healthcare system that is set to provide secured access to patients’ medical data.

Thermal-insulating panel manufacturer Topanel of Ramnicu Valcea, controlled by a Cyprus-based company, boosted its turnover by 7% in 2022, to RON363 million.

Furniture manufacturer PGS Sofa & Co, controlled by Parisot family of France, in 2022 posted turnover worth RON278.7 million (EUR56.5 million), down 20% on the year, in line with ZF calculations based on Finance Ministry data.

Duvenbeck Logistik, a major transportation and logistics company locally, in 2022 registered turnover worth RON421.6 million (EUR85.5 million), up 15% from 2021, in line with ZF calculations based on Finance Ministry data.

Romanian upholstered furniture producer MobilaDalin headquartered in Reghin, Mures county, a Romanian business founded by Cotoi family 27 years ago, in 2022 generated turnover worth RON53.2 million (EUR10.8 million), up around 5% from the previous year, in line with ZF calculations based on Finance Ministry data.

Nuclearelectrica, NuScale Power, E-INFRA, Nova Power & Gas, Fluor Enterprises and Samsung C&T Corporation on Tuesday (June 13) signed a Memorandum of Understanding (MoU) to collaborate in the deployment of NuScale power plants in Central and Eastern Europe (CEE) and Romania.