Netherlands-headquartered Damen group is pulling out of shipyard Mangalia which is located on the Romanian Black Sea coast. The decision came after a discussion between Damen Shipyards Group CEO Arnout Damen and Romania’s Prime Minister Marcel Ciolacu, local media reported. Damen took operational control of the shipyard in 2018 with high expectations for the operation which remained 51% owned by the Romanian
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Hambrug-based GARBE Industrial Real Estate GmbH, one of the leading providers and managers of logistics, light industrial and technology real estate in Germany and Europe, just set up a new company in Romania, seeing significant growth potential in the country’s logistics sector. Under the leadership of CEE Managing Director Martin Polák and Country Head Andrei Jerca, GARBE Industrial Real Estate Romania will
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Bucharest-listed Orsova Shipyard signed two contracts worth a total of 8.58 million euro with Netherlands-based Rensen-Driessen Shipbuilding for the construction and delivery of two river vessels, according to a report of the Romanian company filed with the local bourse on Tuesday (Nov 5). Under the contracts, Rensen-Driessen Shipbuilding must make an advance payment, with the remainder of the price to be paid
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British mobile group Vodafone and Bucharest-listed telcom operator Digi, said on Thursday (Oct. 31) they had signed a memorandum of understanding (MoU) with Hellenic Telecommunications Organization (OTE Group), to buy its subsidiary Telekom Romania Mobile (TKRM). Vodafone said in a filing to the London Stock Exchange that under the terms of the agreement it would buy TKRM and a “significant proportion” of
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Bad Vilbel-headquartered German pharmaceutical company Stada has inaugurated a major new production site and supply-chain hub in Turda city in southeastern Romania, that will contribute to security of medicines supply in Europe by supplying more than 150 million packs per year. Following a total investment of more than €70 million the facility is now fully validated and approved, with initial shipments underway.
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Romanian top oil and gas group OMV Petrom, majority-controlled by Austria’s OMV, reported on Tuesday (Oct. 29) sales worth RON26.7 billion in the first nine months of 2024, down 6% on an annual basis. Net profit increased by 54% to RON3.9 billion (EUR789.6) amid the absense of solidarity tax on refined crude oil, which had burdened the prior-year period’s profit by 2.355
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Romanian aluminum producer Alro, one of the largest vertically integrated aluminum producers in Europe in terms of production capacity, has put into operation its new facility, Cutsmart Systems, following an investment of 13.7 million RON (2.7 million EUR). The facility will focus on high-precision cutting of aluminum products, adapted to the specific needs of clients from various industries, the Slatina-headquartered company said.
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Romanian car manufacturer Dacia is out to conquer the hyper-competitive (and profitable) C-segment. The Bigster, an all-new vehicle, has been revealed and will arrive next year to challenge rivals such as the Kia Sportage and Nissan Qashqai. Dacia’s biggest car ever, the Bigster, is 4.57 meters long, and can comfortably accommodate five passengers and all their luggage. The design of the car
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Paval Holding, the investment vehicle controlled by Romanian brothers Dragoş and Adrian Pavăl, -founders of DIY retailer Dedeman- in partnership with Lithuanian hotel operator Apex Alliance, acquired the 5-star hotel complex Waldhaus Flims Wellness Resort in Switzerland for an undisclosed amount, the Swiss municipality of Films said. CBRE Switzerland assisted the seller in this transaction. Located in Flims-Laax, a popular ski resort in
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As of Monday (Sept.23), the BET index, as the main index of the Bucharest Stock Exchange (BVB), will have Romanian drugmaker Antibiotice Iasi. With a rich history and experience in the production of drugs, for over seven decades, Antibiotice is the main Romanian producer of generic drugs and is a company present on the capital market for over 27 years, its development
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