At a recently Bucharest-held two-day event organized by Aegean First Company AFCO supported by ExxonMobil Chemical, managers of multiple industries, stakeholders and raw materials supply chain representatives in Romania and abroad met to discuss the latest updates and trends about polymer raw materials. The wider objectives of the event, VALUE ADDED SOLUTIONS IN PLASTIC PACKAGING THAT CAN OFFER SUSTAINABILITY BENEFITS, addressed the need of creating valuable channels of communications between the companies acting all along the supply chain in the polymer industry, from producers to distributo ..read more

Schneider Electric announces the appointment of Irina Peptine as Marketing Director for Romania, Moldova and Armenia. Irina Peptine replaces in this position Valentin Vasile, who now holds a role with regional responsibilities within the organization, namely Southeast Europe Digital Energy VP. With an 18-year career at Schneider Electric, Irina Peptine graduated from the Faculty of Energy at the Politehnica University of Bucharest and immediately started her career in the company. Over time, she held several roles in the Marketing Department. In recent years, she was Channel Marketing Manager ..read more

The third edition of the international conference “Future of Governance” will bring together more than 15 leading speakers who will debate the challenges in public sector governance viewed from the perspective of the global ecosystem. The conference, organized by Envisia Boards of Elite, will take place on May 13, 2024, at the InterContinental Athénée Palace, and will bring together authorities, regulatory bodies, business representatives from Romania, board members and governance professionals. With more than 300 participants in the last two editions, Envisia continues to develop and become ..read more

Piletilevi Group is buying a majority stake in two Polish ticket sales companies – kicket and Biletomat – and will become the largest player in Central Europe, brokering tickets for nearly 320 million euros per year. “With this transaction, Piletilevi Group now owns a 77 percent stake in the companies being purchased, which will increase to 83.8 percent by 2026,” Sven Nuutmann, co-owner and CEO of Piletilevi Group said. He added that the emergence of a ticket brokering company with strong market power on the Polish market will give the organizers financial security, supplement competition and ..read more

The latest review of the Energy Performance of Buildings Directive (EPBD) sets ambitious objectives to reduce global consumption of energy of the European Union buildings and establishes the common framework for the Member States to rely on for the reduction of carbon emissions and energy efficiency, according to the national particularities. The experts attending the fifth edition of the România Eficientă Forum on “EPBD Recast. Policy, challenges, and implementation” have discussed about the key changes introduced by the revision of EPBD and their impacts at national and regional level. ZEB c ..read more

“Hexing Europe decision to establish a new plant in Timisoara stems from our commitment to our clients for serving locally by expanding our manufacturing capabilities and meeting growing market demands in Europe. Timisoara offers strategic advantages such as access to skilled labour, logistical infrastructure, and proximity to key markets, making it an ideal location for our expansion efforts,” Oliviu Burlacu, General Manager of Hexing Europe Romania told The Diplomat-Bucharest. “The key goals and objectives behind our expansion in Romania include increasing production capacity to meet rising ..read more

OMV Petrom announced its financial results for the first quarter of 2024. The company achieved a net profit of around 1.4 billion RON, down 6 percent compared to Q1 2023. Consolidated sales revenues decreased by 10 percent compared to Q1/23, negatively impacted by lower prices for natural gas and electricity, as well as lower sales volumes of natural gas, partially offset by higher sales volumes of electricity and refined products. Refining and Marketing segment represented 72 percent of total consolidated sales, Gas and Power segment accounted for 28 percent, while sales from Exploration and ..read more

International law firm CMS has advised global energy company Iberdrola on the agreement to sell Eolica Dobrogea One wind company, their Romanian 80MW wind energy production facility, to Premier Energy Group, for 88 million Euro. This deal marks Iberdrola’s full exit from the Romanian market, as part of their plan to divest non-core assets. The transaction is subject to the standard regulatory approvals. With more than 180 years of history, Spanish-based Iberdrola is a leading wind power producer and one of the largest electricity companies in the world in terms of stock market capitalisation ..read more

BCR achieved a net profit of RON 620 million (EUR 125 million) in Q1 2024, up by 10.1 percent against RON 563 million (EUR 114 million) in Q1 2023, driven by improved operating results underpinned by advance in customer business. Operating result improved by 20.3 percent to RON 918 million (EUR 185 million) in Q1 2024 from RON 763 million (EUR 155 million) in Q1 2023, on the back of higher operating income, partly offset by increased operating expenses. Net interest income increased by 17.1 percent to RON 1,034 million (EUR 208 million) in Q1 2024, from RON 883 million (EUR 180 million) in Q1 ..read more

Orange announces the appointment of Carl Al Khawand as Chief Financial Officer (CFO) of the Orange Romania Group, starting July 1, 2024. He will take over the responsibilities of Adela Guédon, who will continue her career within the Orange Group from the position of CFO of the cyber security division – Orange Cyberdefence. With over 10 years of experience within the Orange Group, Carl Al Khawand is currently Financial Director for the North East region of Orange France, overseeing financial planning and analysis for several operational units, including Orange stores, call center departments, r ..read more