Romania Feed

Alexandru Stanean, CEO of TeraPlast group, the biggest Romanian producer of building materials, says the company plans to invest RON24 million in photovoltaic panels in 2022.

Retail park developer Square 7 Properties wants to deliver annually between 35,000 and 45,000 square meters of new spaces locally in the next five years as it plans to expand toward smaller cities as well, explained Clemens Petschnikar, partner and CEO of the company.

Humanitas bookstore chain, a major player on Romania’s book market, is opening a new bookstore in Bucharest, its fifth, in a monument building on Lipscani 42 street of Bucharest’s Old Town, close to Carturesti Carusel bookstore.

Autonom Services, a mobility network controlled by brothers Marius and Dan Stefan, expects to reach EUR100 million turnover by yearend and for 2023 projects two-digit growth.

Maxagro group, owned by brothers Ianco and Ioji Zifceak, cultivating 10,000 hectares with grain conventionally in Timis county, has entered the niche of ecological farming by acquiring an almost 18,000-ha farm in the same county.

Frigoglass Romania, a producer of plastic products and refrigeration cabinets, part of Greek Frigoglass Group, had a turnover of RON573 million (EUR116.5 million) in 2021, up almost 15% on the year, as per calculation by Ziarul Financiar (ZF) daily based on finance ministry data.

Dacia Mioveni and Ford Craiova, the two car plants in Romania, manufactured some 330,400 vehicles in January-August 2022, 15.5% more than in the same period in 2021, as per data from the country's carmakers association ACAROM.

OTP Bank Romania on Tuesday said it participated in financing the loan recently granted on the local market to real estate developer Iulius Group to support investments in Iulius Mall regional shopping centers in Iasi, Cluj-Napoca, Suceava and Timisoara.

Romanian natural gas producer and supplier Romgaz (SNG.RO) on Tuesday (Sept 13) said in a stock market report that it placed with state-run lender CEC BANK a term deposit in the amount of RON160 million.

Law firm Dentons Romania has further strengthened its team in Bucharest with the addition of Oana Voda as Head of the Public Procurement Practice.

75% of Romanian consumers willing to invest in energy efficiency projects plan to resort to bank financing, above the European average of 64%, according to the European Retail Banking Radar survey released by leading global consulting company Kearney.

BRD Asset Management, the investment management company of BRD Groupe Société Générale, has launched four new investment funds, thus widening its portfolio of products intended for investments by 50%.

Leading global consulting company Kearney on Tuesday (Sept 130 released data finding that 37% of UK consumers are willing to pay a 5-10% premium for an environmental, social and governance (ESG) product over a comparable non-ESG alternative, compared to a European average of 30%.

The number of companies in Romania that set off insolvency proceedings increased in the first half of 2022 as compared to the same period of 2021, as per the latest survey conducted by Coface Romania in August 2022.

Romania's current account balance posted a deficit of EUR14.9 billion in January-July 2022, higher by 63% than EUR9.1 billion reported in the same period in 2021, central bank data published on Tuesday (Sept 13) show.

Roughly 40% of employees would look for another job if their employers asked them to work mainly from the office, as per a survey conducted at the end of August by Undelucram.ro, the largest online community of employees in Romania.

Romania placed second among European Union countries that produced the most bicycles in 2021, according to data released by EU’s statistical office Eurostat.

Electromontaj, an energy company awaiting the Competition Council’s ok to take over insolvent Hidroconstructia construction firm, is offering a maximum RON119 million to seal the deal.

Agroland Agribusiness (AAB.RO), a company that sells inputs for organic and traditional agriculture and is part of the Agroland group, reported operating revenues of RON25.9 million in the first half of 2022, up 87% from the year-earlier period and net profit of RON1.2 million, 53% higher.

Norofert Group (NRF.RO), a leading Romanian producer of organic agricultural products, on Thursday said it ended the first half of 2022 with a net profit of RON5.7 million, up 11.6% on the year, and a turnover of RON29.9 million, up 50.5% on the year, as per data from the company’s half-year financial report sent to the Bucharest Stock Exchange.