Romania Feed

Adinish, one of the best-known local businesses focused on the sale of children’s items, plans to expand this year by opening stores in Timisoara and Iasi.

Sipex, a major building materials wholesaler in Romania, with 12 warehouses locally, wants to add two new distribution centers in the coming period, in Constanta and Mogosoaia.

Transavia, Romania's largest chicken producer owned by Romanian entrepreneur Ioan Popa, has hired Rothschild investment bank to probe the market for potential interest in acquiring the company, sources on the advisory market say.

Agricover Group, one of the leading players in agribusiness, has appointed Bogdan Dimcea, an executive with more than two decades of commercial and operational experience, CEO of Agricover Distribution, an input wholesaler who has 8,300 farmers as customers.

Philip Morris International has appointed Mircea Scaunasu as managing director for Romania, replacing Daniel Cuevas, who had led the company for the past two years and was appointed managing director of Philip Morris Italia.

Romania's Finance Ministry raised RON365 million on Monday (February 13) selling bonds maturing in October 2030, at annual an average yield of 7.62%.

Romania's current account balance posted a deficit of EUR26.57 billion or 8.9% of GDP in 2022, higher by almost EUR17.47 billion than in 2021, central bank data showed on Monday (February 13, 2023).

Bittnet Systems (ticker symbol BNET), an IT&C solutions integrator and IT training services provider, announced that the combined revenue of all group companies reached RON268.7 million last year, an increase of 25% on 2021, according to its unaudited preliminary financial report.

Romania’s economy is expected to grow by 2.5% in 2023, the European Commission said in its winter economic forecast published on Monday, higher than the fall forecast of only 1.8%.

Kaufland, one of the biggest actors in modern retail in Romania, is among the top exporters of food in 11 categories, to be precise, according to data from the National Statistics Institute (INS) analyzed by ZF. Thus, the retailer is present in the ranking of exporters of vegetable preparations, fruit, milk and dairy products, fish and shellfish or coffee and tea, the source said.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, continues downward trend, slipping to 7.09% on Monday, February 13, from 7.11% on Friday, in line with NBR data.

ELI Parks continues expanding nationwide through a new logistic and industrial park in Oradea, which is set to include two building with a 30,000-sqm total area.

Romanian executive Mihai Cioltea (44), who was in charge with Inditex, Zara owner, expansion in Romania, Kazakhstan and Russia for eight years, has been recently appointed as development manager at NEOM, a real estate project of Saudi Arabia that envisages the construction of several smart cities in the desert.

The average net salary in Romania increased by 6.2% (RON257) in nominal terms in December 2022 compared with November 2022, to RON4.398, data from the country's statistics board INS showed on Monday, February 13.

The expansion of Robert Bosch engineering center, boosting energy efficiency at Cluj-Napoca Municipal Hospital, a sports hall in Turda, a polyvalent hall in Blaj and Targoviste municipal stadium are just some of the projects ACI Cluj, a builder with RON250 million turnover is developing.

Underline Ventures, the newest investment fund in Romania that supports tech startup development, plans to keep up the pace of 2022 this year and fund 4-5 tech companies with a total of EUR2-2.5 million.

UrsPack, a manufacturer of biodegradable packaging for the hotel, restaurant and catering industry, has invested in process automation and expects revenue to double in 2023 from the around EUR3 million last year.

The number of construction projects increased by 20% to 29,719 in 2022, after two pandemic years with restrictions and significant changes in geopolitical tensions, IBC Focus says.

Modern industrial and logistic space stock at end-2022 reached almost 6.2 million square meters, up by over 500,000 square meters from 2021, and there’s further significant room for growth as compared to other CEE countries, Colliers consultants believe.

BVB Group, which includes the Bucharest Stock Exchange, the Central Depositary and CCP.RO, in 2022 posted RON56 million operating revenues, 22% higher than in 2021, on the rising revenues on all segments of activity.