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
For more news, visit whitemountain.ro/blog
2/9/10
10/9/09
Furniture & Property Management, Romania
Quick update on furniture packs & property management: we now cover Cluj, Brasov & Bucharest for all your property needs, from simple furnishing, fitting kitchens, interior design, through to rental & sales work, investment advice & property management.
Here is an example of a one-bedroom apartment just completed this week in Tampa Gardens, Brasov.
http://www.youtube.com/watch?v=wD2hRe1d9ww
In addition, the apartment was rented for 24 months at peak rent, just 2 days after the work was completed this week. Its not always that easy & we don't want you to think for a minute it is readily that easy, but it does show, there is a rental market. As you can image, the owners are more than a little pleased, 3 weeks after completion to be off their hands until Oct 2011.
For more information, please contact us: info@whitemountain.ro
For more news, visit whitemountain.ro/blog
Here is an example of a one-bedroom apartment just completed this week in Tampa Gardens, Brasov.
http://www.youtube.com/watch?v=wD2hRe1d9ww
In addition, the apartment was rented for 24 months at peak rent, just 2 days after the work was completed this week. Its not always that easy & we don't want you to think for a minute it is readily that easy, but it does show, there is a rental market. As you can image, the owners are more than a little pleased, 3 weeks after completion to be off their hands until Oct 2011.
For more information, please contact us: info@whitemountain.ro
For more news, visit whitemountain.ro/blog
6/30/09
Economic Activity in Romania, June 30th, 2009
Business
- State-owned gas transport company Transgaz Medias will invest an estimated €48.5 million in technical equipment.
- State-owned company Imprimeria Nationala will invest €40.8 million in the acquisition of equipment and software infrastructure for the printing of biometric passports. Project completion is expected within five and a half years.
- Romanian canned foods producer Scandia Romana will invest an additional €32.5 million in completing upgrades and renovations for its factory in Sibiu, and in the acquisition of equipment. The initial investment was €30 million.
- Romanian construction materials producer Cemacon will invest €27 million over several years in increasing the production capacity of its factory in Bacau.
- Romanian energy distributor Transelectrica invested an estimated €24 million in modernizing its energy stations in Gutinas (Bacau County), Bacau Nord, Suceava Nord and Roman (Neamt County), thus activating its 400kV Moldavian energy circuit.
- American beverages giant Coca-Cola and American energy distributor CountourGlobal invested €16 million in an electric and thermal energy production plant located near the Coca-Cola factory in Ploiesti, Prahova County.
- Italian construction and real estate group Euroholding will invest €15 million in the construction of two new prefab construction materials and concrete factories located in Timisoara, Timis County.
- Romanian coating products manufacturer Köber invested €10-12 million in the first stage of expanding the production capacity of its unit located in Savinesti.
- Romanian construction materials distributor Arabesque invested €10 million in a new commercial and logistics centre in Oradea with a surface of 30,000 m². This investment is part of their commercial centres network expansion plan for the period 2008 - 2009. Arabesque also plans to invest an additional €10-12 million in a similar centre located in Baia-Mare, Maramures County during the second half of 2009.
- Danish industrial group Danfoss finalized a €10 million investment in its new Romanian headquarters located in southern Bucharest. The complex includes a production unit for heating systems equipment, a warehouse, and a sales office.
- Romanian poultry meats and products producer Transavia will invest €10 million in modernizing its local factories and increasing their production in Brasov.
- The city of Predeal (Brasov County) will invest €4 million in bringing their ski slopes to the international standards required for organizing the Olympic Youth Festival in 2013.
- Romanian discount retailer Minimax invested €1.5 million in two new stores: one in Cisnadie, Sibiu County, which opened last week; and one in Vulcan, Brasov County which is set to open in July.
- Romanian fashion company Rafar, part of RTC Holding, invested €1 million in opening its seventh Debehams store. It is located in Baneasa Shopping City commercial complex in northern Bucharest on 1000 m².
- Romanian HoReCa (hotels, recreation, catering) company Transilvania Hotels & Restaurants invested €500,000 in introducing the Laura Chavin cigar line to the Romanian market, and plans to invest an additional €2 million in the next three years.
Real Estate
- British investment fund Tri Investments invested €15.5 million in the acquisition of 69 apartments in the residential centre Perla Residence located in northern Bucharest.
- Romanian businessperson Ionut Prisecariu invested €9 million in the Rapsodia Hotel in Botosani (150 rooms of 3 and 4 stars), expanding his hotel network to four units.
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