Romania Feed

Vlad Ardeleanu, CEO of imaging clinic network Medima Health, with nine units locally, says the business is witnessing two-digit growth against last year and expansion plans envisage the opening of five new units.

Schaeffler Romania, the local subsidiary of German group Schaeffler, has for 2023 budgeted an over EUR16 million investment in projects related to production capacity expansion, safety, sustainability and other directions relevant for the development of Brasov plant.

Liberty Galati, Romania’s biggest steel producer, has announced a RON40 million investment in duct and pipe production.

Premier Palace & Spa Hotel in Bucharest, held by Premier Palace, insolvent since 2019, has been put up for sale for EUR6.9 million, court appointed trustee Euro Insol announced.

The investment potential of the green power market (solar panels, heat pumps, insulation) in Romania stands at more than EUR30 billion by 2040 and about EUR20 billion of that could come from banks, a report of advisory firm McKinsey & Company Romania shows.

Venture capital funds Innova/7, Booster Capital, GapMinder II and Morphosis Capital II are to receive up to EUR80 million investments from the National Recovery and Resilience Plan (NRRP) to fund at least thirty companies in development, as well as technology, manufacturing FMCG, B2B and B2C services and healthcare startups.

Luxury watch retailer EraVault has opened its first store in Bucharest, in a EUR250,000 investment.

Alpha Bank Romania posted EUR11 million net profit in the first quarter of 2023, while its assets reached EUR4.4 billion, 13% higher than in the year-ago period.

Real estate developer Forty Management has signed an agreement with Ascott hotel chain held by Singapore’s largest real estate investment company to bring The Crest Collection brand to Bucharest. The new hotel should be inaugurated in 2026, following a EUR22 million investment.

Alpha Bank, one of the ten largest banks in Romania, is in talks with telecommunications group Orange over buying Orange Money IFN Romania, financial market sources told ZF.

Romanian investors have in the past five years purchased real estate properties worth EUR1.1 billion, accounting for 28% in the overall volume traded in this period, becoming the most dynamic buyers of income generating assets in Romania, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.

MedCity, a developer of buildings for the healthcare field part of SofMedica group specialized in medical equipment wholesale, has bought an over 1,000-sqm building in Timisoara from FF Group Romania, the local unit of Greek fashion group Folli Follie in a deal handled by Colliers.

Distribution and logistics company Aquila ended the first quarter of 2023 with 20% higher revenues from the same period of 2022, at RON562 million.

Staer International, a company that controls several Staer-branded stores, ended 2022 with turnover worth around RON84 million (EUR17 million), 5.7% lower than in 2021, in line with ZF calculations based on Finance Ministry data.

Electronic parts and equipment manufacturer Zes Zollner Electronic, the local subsidiary of German concern Zollner Elektronic, for 2022 reported turnover of above RON2.6 billion (EUR528.8 million), up around 75% from 2021.

Marius Pantis, general manager of window and door manufacturer Optimedia, says the company expects sales abroad to rise by 10% in 2023.

RTC, a stationery and office supplies provider, aims to hit EUR100 million turnover in the next five years.

Mircea Varga, executive board chairman of Teilor Holding, a group of companies that includes luxury jewelry chain Teilor, non-bank financial institution Invest Intermed GF IFN and Teilor Invest Exchange, says the group’s 2023 investment plan amounts to some EUR5 million.

Okamoto Optics, a major producer and supplier of large-sized optical components for lasers, will manufacture high-power mirrors in a center located near Magurele laser, with the state-backed investment amounting to EUR20 million, in line with information posted on LinkedIn by Sebastian Burduja, Romanian research, innovation and digitalization minister.

Romania’s national commission for prognosis and statistics in its spring report revised downward its projection for the country’s inflation to 7.4% at the end of 2023 from a previous projection of 8% in January 2023, and kept its forecast on the country's 2023 economic growth at 2.8%.