Business Review

Vulcan, the only Romanian industrial boiler manufacturer, controlled by businessman Ovidiu Tender, is turning to local projects to develop the business. President Peter Eisenkolb told Business Review that the company was aiming to become one of the leading bridge suppliers for the Comarnic-Brasov highway and of equipment for the 3rd and 4th reactors in Cernavoda power plant as a means to steer the company into profitable territory.

Dana Ciuraru

The delay in this year’s car replacement program sent sales crashing in the first two months of this year. Industry representatives told Business Review that the local car market will get into gear only now that the program has received the green light. The government scheme to subsidize new cars for drivers who trade in their old clunkers comes with important changes, which have triggered split opinion among auto movers and shakers.

By Dana Ciuraru

Local entrepreneur Octavian Netcu, who set up a group of companies that supply medical equipment and services, has signed a deal with UK-based Gada Group, welcoming the foreign firm as majority shareholder in his company through a share swap and cash deal. Netcu, who in turn has also become minority shareholder in Gada Group, is now planning to open a hospital specializing in medical imagery in Bucharest this March, while looking optimistically towards a revival of public spending on medical equipment this year.

By Corina Saceanu

The eighth edition of the annual event Romanian Tax, Law & Lobby, organized by Business Review, gathered over 150 professionals who participated in six conference and workshop sessions led by eminent specialists in the tax, legislation, lobby and advocacy fields.

Anda Dragan

Two state-owned companies, railway operator CFR Calatori and airline Tarom, are going head to head, as both have similar ticket prices for local routes. But while the Tarom management plans to make the national carrier profitable this year,CFR Calatori representatives intend to reorganize the company and invest heavily to get the rail operator back on track.

Investor sentiment for Central and South Eastern Europe has slightly improved over the last couple of months and several investment funds active in the region have started to move money here, Romania included. The end of last year saw several new deals involving investment funds, and whether it was private equity deals or funds invested on the local stock market ,fresh cash has started to pour in.

After two good years for the local hotel industry in 2007 and 2008, last year saw the market decline. However, this has not deterred existing chains from planning their expansion throughout the country, buoyed by lower land and construction costs. New players have also put Romania on their map.

By Corina Saceanu

After several years of doubling or tripling the size of their store networks across Romania, FMCG retailers have slowed down their expansion. The lack of money, paucity of real estate projects available and slump in spending are all dissuading retailers from announcing new stores. Only a few are still opening new units in 2010 and not at the same pace as two or three years ago.

Corina Saceanu

What should the state do when the economic crisis has left its coffers bare? Introducing new taxes and duties is the response of the Romanian authorities. Big Four specialists have analyzed for Business Review the likely outcomes of introducing new taxes such as those mooted for property, wealth and micro-enterprises. They also put forward their own solutions for how to revive the Romanian economy.

 Dana Ciuraru

The painful learning process of insolvency did not spare Romanian companies last year, after hitting big international names. Although Romania has not had its own version of the Lehman Brothers collapse, some local firms teetered on the brink of bankruptcy, and were either obliged to or decided themselves to apply for insolvency to try to put their affairs in order.