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Schaeffler Announces Layoffs at Brasov Factory
Wednesday, December 4, 2024
The German group Schaeffler, one of the largest manufacturers of automotive components, recently announced that it will lay off 4,700 employees in Europe, and now it has revealed that the Brasov factory will also be affected. Part of the production will be moved to other plants, but investments will also be made for the production of new components that are currently manufactured in sites in Europe and Asia. Schaeffler, which opened its Cristian ...
Over 104,000 natural and legal persons, registered in first ten months of 2024
Wednesday, December 4, 2024
The number of registrations of natural and legal persons decreased, in the first ten months of 2024, by 15.64%, compared to the similar period of the previous year, totaling 104,702 registrations, according to the data centralized by the National Trade Register Office (ONRC).The most registrations were registered in the Municipality of Bucharest, respectively 23,733 (minus 8.37%, compared to the first ten months of 2023) and in the counties of Ilfov - with ...
Competition Council Approves Mini-Farm’s Takeover of 10 Tinos Pharmacies
Wednesday, December 4, 2024
The Competition Council has authorized the transaction by which Mini-Farm SRL intends to take over 10 pharmacies belonging to Tinos Farm SRL, located in Bucharest and Ilfov County. Mini-Farm SRL is mainly present on the retail market of pharmaceutical and parapharmaceutical products through pharmacies. Mini-Farm SRL owns 117 pharmacies in Tulcea, Constanta counties and in the Municipality of Bucharest. The 10 pharmacies ...
KoçZer Expands into Europe with Romanian Subsidiary
Wednesday, December 4, 2024
KoçZer, Türkiye’s procurement and sourcing management company, officially announced its entry into the European market with the establishment of its first subsidiary in Romania. This milestone underscores KoçZer’s commitment to becoming a dominant player in the European supply chain management sector. The launch event, held at Radisson Blu Hotel in Bucharest, was attended by Türkiye’s Ambassador to Romania ...
Romcim launches CEVO, a range of products with lower CO2 emissions
Wednesday, November 27, 2024
* A new step in Romcim's strategy to support evolved construction projects Romcim, a CRH Group company, is launching CEVO, a range of innovative cement and concrete solutions with lower CO2 emissions. The CEVO range for advanced construction has been developed to respond to the growing interest in the Romanian construction market for the use of ...
Competition Council Reviews Commitments by Bucharest Airports Company
Wednesday, November 27, 2024
The Competition Council submits to public debate the commitments proposed by the National Company “Aeroporturi Bucure?ti” S.A. (CNAB), in order to remove the competition concerns that led to the initiation of the investigation regarding the limitation of market access of companies that manage IT applications through which taxis can be ordered from the airport. CNAB decided that only the IT ...
Number of companies suspending activity, up almost 20pct in first nine months
Wednesday, November 27, 2024
The number of companies that suspended their activity in the first nine months of 2024 was 13,481, an increase of 19.29% compared to the same period last year, according to data published by the National Trade Registry Office (ONRC).The highest number of companies that suspended their activity was in Bucharest, with 1,619 (an increase of 20.64% compared to January-September 2023), followed by the counties of Cluj, with 837 suspended companies ...
Cugir Arms Factory Upgraded with $82M to Boost NATO Ammo Output
Wednesday, November 27, 2024
The authorities plan to modernize the arms factory in Cugir, Alba County, following investments of 410 million lei. The modernization aims to increase production capacity, but also diversify the manufacturing range of NATO ammunition of 12.7×99 mm caliber, according to a draft Government Decision, put into public debate at the Ministry of Economy. “Currently, ...
Amazon is closing its AI department in Romania - 400 people laid off
Wednesday, November 27, 2024
"Negotiations are currently underway regarding the amount of compensation paid by the company to those being laid off, the company has offered only one severance payment, but employees are pushing for more," ...
Romania's nine-month M&A deals hit $1.7 bn
Wednesday, November 27, 2024
Merger and acquisition (M&A) deals in Romania over January - September 2024 totaled $1.7 billion, almost 13-fold the mere $134 million recorded in the same period last year, shows the Boston Consulting Group (BCG) global M&A report.The value of the deals concluded over the entire year 2023 was $2 billion. Romania recorded the seventh largest transaction in Central and Eastern Europe ...
South Korean company Hanwha Aerospace launches subsidiary in Romania
Wednesday, November 27, 2024
The South Koreans from Hanwha Aerospace have launched Hanwha Aerospace Romania, an entity set up to support the security of Romania and NATO, the company informs in a press release.The local subsidiary of Hanwha Aerospace aims to create local jobs and generate other economic effects, and is committed to maximizing industrial cooperation with the Romanian defence sector through local production and maintenance and repair operations (MRO) ...
Competition Council Wins Final Rulings Against Auchan, Cora & Suppliers
Wednesday, November 27, 2024
The High Court of Cassation and Justice (ICCJ) has definitively confirmed that retailers Auchan and Cora Romania, along with four of their suppliers fined by the Competition Council for shelf price fixing, violated competition rules. In 2019, the Competition Council sanctioned retailers Auchan, Carrefour, and Cora Romania (Hypermarche S.A.), along with suppliers Quadrant-Amroq Beverages, Star Foods EM, ...
Fondul Proprietatea, profit of 209.6 million RON in the first nine months
Wednesday, November 20, 2024
Fondul Proprietatea ended the first nine months of this year with a net profit of 209.6 million RON, compared to the 968.9 million-RON-loss in the similar period of 2023, infomrs a company report.The company reported a loss of 3.3 million RON in the third quarter of 2024.Gross dividend income totaled 145.8 million RON in the first nine months of this year and 0.5 million RON in the third quarter of 2024.According to the report, the gross ...
Antibiotice Iasi reports net profit of 87.9 million RON, up 15 pct, in first nine months
Wednesday, November 20, 2024
Romanian drug manufacturer Antibiotice Iasi recorded a net profit of 87.9 million RON in the first nine months of this year, up 15% compared to the same period last year, according to a company press release sent on Friday.In the first nine months of 2023, the company reported a profit of 76.7 million RON.According to the cited source, the company's turnover in the domestic and international markets in the first nine months totaled 506 million RON, up 9% ...
ABSL 2024 Report: An Industry in Continuous Development in Romania
Wednesday, November 20, 2024
November 13th was the date of the 12th edition of the ABSL (Association of Business Service Leaders Romania) annual conference, the biggest event of the business services industry.”We innovate the future. We open new roads in the business services sector” is the theme of this edition attended by over 600 specialists. The topics covered include the implementation of the latest technologies, the launch of salary and market reports, the presentation of case studies ...
DigiRay acquires Maraffka clinics and expands into the Ploiesti market
Wednesday, November 20, 2024
DigiRay, the largest radiology and dental tomography network in Romania, with its majority shareholder the investment fund Black Sea Fund, has acquired the 3 Maraffka clinics in Ploiesti entering the market in this city. This is DigiRay’s third acquisition after buying the Dental Scan centers in Bucharest (2021) and the YTS Dental View center in Oradea this year. DigiRay (Clinica Dentara S.A) is a company founded in 2011 by doctor Cristian Pop in Zalau, and ...
SIPEX: 7% increase in turnover
Wednesday, November 20, 2024
SIPEX, one of the largest distributors of construction and finishes materials from Romania, listed on the Bucharest Stock Exchange, on the AeRO market, with 27-year presence in this segment, announces the financial results recorded in the first 9 months of the current year. The company recorded a turnover of over RON 252 million, a 7% increase compared to the same period in 2023, mainly supported by a 17% increase in sales in the B2B channel. The operational profit recorded by the company in ...
MLP Group reports growth in revenue and net profit in 2024
Wednesday, November 20, 2024
MLP Group, a leading European platform for industrial and logistics real estate, continues its dynamic expansion across key markets. Responding to the increasing demand for warehouse space, the Group is bolstering its market position through strategic investments and agile portfolio management strategies. For the nine months ended 30 September 2024, MLP Group’s consolidated revenue increased by 4% year-on-year to PLN 278.3 million. Rental income from investment ...
IMPACT achieved revenues of 137.9 million lei in the first nine months, up 29%
Wednesday, November 20, 2024
IMPACT Developer & Contractor, the first real estate developer listed on the Bucharest Stock Exchange, reports revenues of 137.9 million lei at group level in the first nine months of 2024, up 29% compared to the same period last year. Gross profit increased by 12%, with a value of 36.7 million lei. In the first nine months of the year, IMPACT sold 90 units in the completed residential compounds available for sale, namely LUXURIA Residence and BOREAL Plus. The ...
The pharmaceutical industry, 40% share in the Eltra Logis business
Wednesday, November 20, 2024
Eltra Logis, one of the main players in the niche logistics, transport and storage market, is strengthening its position in the pharmaceutical industry, which now generates 40% of the company’s turnover. This consideration comes based on a significant consumption of medicines in Romania and the development of local production capacities in the pharmaceutical sector. The company aims to increase the pharma segment of its business to 80% by 2030. Eltra Logis’ ...