Romania Feed

Donalam stakeholder AFV Beltrame Group, a major European producer of steel bars and other special steels, has announced a EUR200 million investment in a reinforcing steel and wire rod production unit in Romania.

Online retailer Atu Tech, mainly specializing in security systems, has earmarked another EUR1 million this year to develop its own system range, known as SAFER, explained Sorin Felea, Atu Tech general manager and stakeholder.

Targoviste-based dairy product maker Lactate Natura, majority owned by regional investment fund SIF Oltenia, ended the first half of this year with net turnover of RON4.5 million, 43% lower than in the same period of last year, in line with calculations based on the half-year report the company filed with the BSE.

Gebrüder Weiss, one of the largest logistics and transport operators in Romania, plans to expand its logistics space in Bucharest and Sibiu by about 20% next year. The company currently has 65,000 square meters of logistics space with an average occupancy rate of 90%, a Gebrüder Weiss release says.

Romania's general consolidated budget posted a deficit of RON33.97 billion in January-July 2021, or 2.89% of the gross domestic product, lower than RON49.68 billion, or 4.71% of GDP, in the first seven months of 2020, when the economy was mostly shut down by the pandemic, per finance ministry data.

The Board of Directors of lender Patria Bank a(PBK.RO) approved in its meeting of August 26 the appointment of Luca Victor Rogojanu to the position of Deputy General Manager, Risk Division, member of the Executive Committee of Patria Bank, for a four-year mandate, starting September 1, 2021.

Romanian real estate developer Impact Developer & Contractor (IMP.RO) has overshot the RON1 billion stock market capitalization threshold after its shares have spiked 104.3% since the beginning of 2021, amid deals worth RON50 million, per stock market data.

Industrial equipment producer AAGES Targu-Mures (AAG.RO) ended the first half of 2021 with a net profit of RON3.2 million, up 412.7% (over fivefold higher) year-over year, and a turnover of RON20.1 million, up 43.4% from the first half of 2020, per calculations by Ziarul Financiar (ZF) based on stock market data.

Online furniture and home decor retailer Vivre Deco on Thursday informed the holders of Vivre bonds, traded under the symbols VIV25E and VIV26E that, on August 24, 2021, Monica Cadogan announced her resignation from the position of Chief Executive Officer of Vivre Deco.

Global Database, an aggregator of public and private company data founded by two Romanians in 2015, wants to get EUR1.4 million funding for development, marketing investment and to hire sales specialists for the US and UK.

Over half of Europeans and all car fleet managers across Europa plan to buy electric vehicles (EVs) over the next two years, per the e-Readiness Report 2021 drafted by Strategy&, the global strategy consulting team at PwC.

Investment fund The Rohatyn Group (TRG) has sold Pet Network, a company also present in Romania via the Animax and MaxiPet brands, to private equity firm A&M Capital Europe.

Seed producer and processor Agribusiness Germina plans to sell a corn processing facility in Vadeni (Braila County) to Rodbun Group, one of the leading agribusiness companies in Romania, at a price of EUR650,000.

Romanian electrical components manufacturer Romradiatoare Brasov (RRD.RO) reported a net profit of RON1.2 million in the first six months of 2021, compared with a loss of RON638,580 in the same period in 2020.

Romania’s government approved in its latest meeting a memorandum of understanding (MoU) proposed by the Ministry of Investments and European Projects for the collaboration between the local government and the European Investment Bank (EIB) in order to support the implementation of EU-funded projects for 2021-2027 period.

Deloitte assisted the asset management firm The Rohatyn Group (TRG) in the sale of Pet Network, the leading omni-channel pet care platform in South-Eastern Europe, present through multiple brands in Romania, Croatia, Slovenia, Serbia and Bulgaria, to the private equity firm A&M Capital Europe. The transaction is expected to close in the third quarter of 2021.

Over six in ten Romanian employees say they do not have a plan to boost their revenues after retirement, such as private pensions or real estate assets, and they are strictly relying on the state pension.

Romania’s banking system reached a profit of RON3.732 billion at the end of the first five months of 2021, according to a presentation released by Cristian Popa, member of the Board of Directors of Romania’s central bank.

Paving stone manufacturer Symmetrica of Suceava expects Romania's paving stone market to reach EUR165 million at the end of 2021, with its advance amounting to just 3% year-over-year, as the market is severely dented by the commodities boom.

The 1,000 biggest employers in the Romanian economy in mid-2021 had a headcount of 1.46 million employees, 72,000 more than in the similar period of 5 year ago, reveals an analysis by USR Plus deputy Cristian Seidler based on information from Revisal, the software keeping track of all employees in Romania.