Business News

Business

Global steel giant ArcelorMittal will invest an estimated €43 million over the next two years in the construction of a new steel processing unit for its factory in Hunedoara. Following this investment the production capacity of the factory will nearly double, reaching 700,000 metric tons of liquid steel per year.

The Romanian commercial partners of Japanese automobile and engine manufacturer Honda will invest €6-12 million over the next two years in opening six new car dealerships in Constanta, Arad, and Ploiesti (Prahova County); Cluj (Cluj-Napoca County); Bistrita (Bistrita-Nasaud County); and Oradea (Bihor County). The estimated investment per store is €1-2 million.

German DIY chain Obi, part of Tengelmann group, will invest an estimated €5 million in opening the fifth store in its Romanian network. The store, located in Ploiesti, Prahova County, is set to open in April and will have a total surface of 10,000 m2.

Romanian polyurethane foam producer Spumotim Timisoara will invest an estimated €1.5 million in 2010 in acquiring new equipment for its factory.

Romanian agricultural goods producer and distributor Agrofarm will invest an estimated €1 million in 2010 in opening nine new stores in Fetesti and Tandarei (Ialomita County), and Cernavoda and Medgidia (Constanta County) in an effort to commercialise its own products.

Austrian corrugated board manufacturer Rondocarton will invest just over €1 million in 2010 in upgrading installations at its factories.

Real Estate

British investment fund Tri Investments invested €11.5 million in acquiring 69 apartments in the residential project “Eminescu View” located in the centre of Bucharest.

Miscellanea

Pallas proudly introduces Euro Mini Storage: the company offers a flexible, convenient and secure self -storage solution. Units range from 1 to 27 m2, contracts are from 30 days, individually alarmed and climate controlled. Packing materials and moving assistance are available. 24/7 access 365 days a year, they are conveniently located on Theordor Pallady in Sector 3, before the Constanta highway. For more info, visit www.euroministorage.ro.

The subject of changing organisations is one that has been moved abruptly from the periphery of management thinking to the very centre of it by the current economic crisis. Pallas invites you to “Organisational Behaviour”, a Master MBA Class given by CEU Business School. It will take place on February 11th at 18:00, at the Tulip Inn Hotel on Nerva Traian St. Downtown Bucharest. More details at www.ceubusiness.ro.




Exchange Rates

The National Bank of Romania (http://www.bnr.ro/) exchange rates as of February 8, 2010:

1 EUR = 4.1397 RON
1 USD = 3.0228 RON

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