Aquila strengthens regional expansion by acquiring Kitax

Romanian distribution & logistics company AQUILA inked an agreement to acquire 100% of the shares of Hungarian peer KITAX Kft. The transaction price is a maximum of EUR 14 million and is calculated based on a mechanism agreed by the parties, considering working capital adjustments and net debt. The acquisition is subject to the approval of the Hungarian authorities for transaction clearance,

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Dutch group Damen leaves Mangalia shipyard

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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Romania’s Orsova Shipyard inks new deal with Rensen-Driessen

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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Carmaker Dacia enters C-SUV segment with Bigster

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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