Romania Feed

2022 was the year in which employees started to return to the office again, after two years when the remote work was the rule rather than the exception, and the trend is set to be kept.

Liberty Galati, the largest integrated steelworks in Romania, has outlined the digitization and automation projects it will be implementing in 2023.

Three quarters of companies increased their sustainability investments over the past year, out of which 20% say that the allocated resources were significantly higher than in previous years, despite the economic uncertainty and the rise of operational costs, according to the Deloitte CxO Sustainability Report 2023.

F64 Studio, operating Romania’s biggest photo-video equipment retailer, has sealed a partnership with fintech Mokka, a player on the Buy Now Pay Later market of CEE, via which clients can buy products in installments starting late 2022.

Aro Palace Brasov, controlled by Transilvania Investments, is looking for a CEO, as well as a general manager for the hotel of the same name.

Software developer OVES Enterprise saw turnover top EUR6 million in 2022 and for the current year its officials expect turnover to double amid the rising number of projects in the financial and defense industries.

Faurecia Romania, the local subsidiary of French giant Faurecia, currently has 425 jobs available for two plants in Valcea.

Group of firms Maviprod-IRUM, owned by Oltean family of Reghin, in 2022 generated EUR65.5 million turnover and expects a 10% increase at least in 2023.

Private equity fund Innova Capital, one of the most dynamic financial investors in CEE, including Romania, is raising its seventh fund and wants to collect EUR350 million overall. At least 15-20% of this sum would be injected in companies of Romania, with the local market being the second most appealing for the fund, after Poland.

The Competition Council cleared a total of 94 deals in 2022, a record number for the last 16 years.

The corn starch factory in Medgidia, inaugurated last year by Turkey’s Tosmur Group, has grown to 230 employees, plus subcontractors, and ended 2022 with EUR65 million revenue, its officials said.

Entrepreneur Cristian Erbasu, who owns builder Constructii Erbasu, plans to start building a hotel in Oradea by the end of this year.

Profi, a store chain held by investment fund Mid Europa Partners, will maintain its expansion pace this year with more than 250 new openings and remodels.

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, stayed at 7.28% a year on Monday (January 23).

The ''Avram Iancu'' International Airport of Cluj-Napoca, a public corporation subordinated to the Cluj County Council, estimates that total traffic in 2023 will be around 3.1 million passengers, it said in a press release.

Rompetrol Rafinare, a member of the KMG International Group (Rompetrol), will carry out a series of maintenance operations in the coming period and will reduce production at the Petromidia refinery for about ten days.

Romania's private pension system, consisting of Pillar II - mandatory private funds to which several million Romanian employees contribute a portion of their gross monthly income, and Pillar III - voluntary private funds to which several hundred thousand Romanians contribute an amount of their choosing, has overshot the RON100 billion (EUR20 billion) asset mark.

The Board of Directors of Romaero Baneasa (RORX.RO) has decided to grant a new four-month term of office as CEO to Misa Popic.

The Romanian M&A market registered 258 deals in 2022, up 26%, with a total estimated value of $6.6 billion, 10% above the 2021 level, reveals an analysis by EY Romania.

Estonian-held Bolt, providing in Romania ride-hailing services, plus an electrical scooter maintenance services and food order app including an online mini-supermarket, with a team of around 270 persons nationwide, seeks to hire more than 50 specialists, Cristi Salceanu, country manager at Bolt Romania, told ZF.