Money Buzz! Europa

Category: Business

  • Adeplast shareholders agree to sell the company to Sika

    Adeplast shareholders agree to sell the company to Sika

    The shareholders of Adeplast have agreed to sell the company to Sika, the Swiss-based global construction chemicals group. This transaction fullfils the will of the late Marcel Bărbuț, who founded Adeplast and developed it from humble origins into the leading producer of thermoinsulation materials in Romania and a regional player in South-Eastern Europe. The transaction is subject to clearance by anti-trust authorities.

    Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Sika employs more than 24,000 people and is forecasting sales of over CHF 8 billion for fiscal 2019.

    Alexander Bărbuț, representative of the owners of Adeplast: ”Adeplast was the life’s work of our father, Marcel Bărbuț, and is a wonderful story of Romanian success. We look to Sika to continue this story and take the company even further, as part of one of the leading groups in Europe in our industry, while we prepare to embark on our own journey”.

    Daniel Stancescu, CEO of Adeplast: ”With Sika by its side, Adeplast will continue going from strength to strength as an attractive employer, a reliable partner and a relevant contributor to the Romanian economy”.

    Ivo Schädler, Regional Manager Sika EMEA: ”Adeplast is a proven industry leader and will considerably strengthen the presence of our Target Market Building Finishing in the growing Romanian market. The improved access to the distribution channel will offer exciting cross-selling opportunities, increase our market penetration, and drive the continued growth of both companies. We warmly welcome the Adeplast employees to the Sika team and look forward to a successful joint future”.

    Adeplast corporate profile

    Adeplast is headquartered in Ploiesti and produces a wide range of building mortars as well as thermal insulation (EPS) for building envelope solutions. The company operates four state-of-the-art production plants in Oradea, Ploiesti, Roman and Isalnita, which provide a nationwide coverage of Romania and offer the potential to serve neighboring countries as well.

    With 470 employees, Adeplast generated revenues of RON 474m in 2018. The company was founded in 1993 in Oradea by Marcel Bărbuț.

  • Raben Logistics Romania posts a 50% growth in total income

    Raben Logistics Romania posts a 50% growth in total income

    Raben Logistics Romania reported a 50% increase in total income, in the first nine months of 2019, to EUR 6 million, while the number of employees rose by 32.8% due to an increase of the number of clients.

    The company’s robust results in the first nine months of the year were driven by the strengthened quality of the services offered by Raben Logistics Romania which improved the relations with the existing clients and has attracted new ones. Moreover, the financial results show the company’s dynamic development strategy and constant innovation which have led to an increase in the number of active customers.

    „Raben Logistics Romania delivered improved financial results driven by our team’s efforts to deliver top-notch and innovative logistic solutions to our customers, catering to their needs in the best ways possible. I am proud of what our team succeeded to achieve these past nine months and the improvement compared to last year’s numbers is proof that sustained and consistent efforts pay in the long-run. We continue keeping the promise made to our customers to provide high-quality logistic services meant to satisfy their needs by putting all of our collective efforts to innovate constantly in order to find the best logistic solutions”, said Valentin Storoj, Managing Director, Raben Logistics Romania.

    Between January and September 2019, Raben Logistics Romania overcame the challenges posed by the labor market and saw an increase in the number of employees compared to the same period last year, consolidating its team with over 30%, having now 77 full-time employees that deliver logistics services for all the Romanian domestic and international lines. This comes in the context of a difficult labor market in which the resources become more and more expensive as workers are increasingly hard to find.

    Currently, Raben Logistics Romania operates four domestic depots in Romania and it has already started the procedure to open one new depot by the end of 2019, while for 2020 it plans to open two more depots.

    For 2020, Raben Logistics Romania expects to seize opportunities both in the logistics industry and in the labor market, in order to extend its team and its distribution lines.

    In Romania, the biggest volumes of cargo are coming from the routes connecting Poland, Germany and Hungary, while in terms of domestic volumes, the direct lines between Bucharest, Cluj, and Arad have the biggest cargo volumes. The growing demand coming from Germany drove Raben Logistics Romania to launch a direct connection between Nurnberg and Cluj which led to an increase in the operational capacity and an optimization of the transit time, benefiting the customers with improved delivery times.

    Recently, Raben Group implemented several innovative solutions to provide its customers with qualitative logistic services. Among the solutions implemented is ETA — a tool for tracking shipments in real time that uses information about the current position of the driver based on the GPS location provided by the mobile device and enables customers to monitor their shipments through a dedicated Raben platform.

    Moreover, the company equipped its drivers with innovative handhelds using the ETA parameter in order to allow for a seamless flow of information thus, improving the management and communication operations. Raben Group also innovated its fleet by adding double deck and CityLiner trailers, aiming to reduce the impact of its daily logistics operations on the environment.

    In terms of international connections, in 2020, the company has plans to extend its direct lines connecting Germany and Bulgaria with Romania.

  • The next generation of family business owners believes in businesses digitization

    The next generation of family business owners believes in businesses digitization

    The next generation family business owners in Central and Eastern Europewants to bring value to their companies by implementing a digitization strategy, according to PwC NextGen Survey 2019 undertaken in Romania, Russia, Poland, Bulgaria and Albania.

    So, almost 90% of the respondents wants to capitalize their digital know-how to develop a strategy fit for the digital age. The most relevant emerging technologies cited for the future of their companies are the Internet of Things (82%) and Robotics (57%), closely followed by Artificial Intelligence (54%).

    ”The next generation is truly digital native and see the digital technology as crucial for the success of their companies. That’s why they want to use their digital know-how to help their companies adapt to the digital age and perform. For example, 30% of respondents, especially from industry sector, are concerned that their family business is currently behind its peers in this area”, said Ionuț Sas, PwC România Partner and Entrepreneurial & Private Business Leader.

    The next generation of family business owners is concerned  about the changing customer needs (26%), the impact of changing technology (22%) and the market competition (19%). The main business priorities are professionalising and modernising the management practices of their companies (97%), focus on talent (90% say change is needed around talent attraction and retention; 86% say this about upskilling staff).

    Currently, 53% of them are actively involved in the activities of their companies, below the global average (70%), but engagement is growing, rising to 76% in the future. By 2025, 47% expect to have Executive Director roles, and 33% expect to be majority shareholders.

    Conclusions of the PwC NextGen Survey 2019

    • 37% of Next Gen in Central and Eastern Europe have been given the opportunity to lead a specific change project.
    • 23% are executive directors today; 47% expect to be by 2025 (which exceeds the global average of 41%)
    • 20% are majority shareholders today, 33% expect to be by 2025.
    • In terms of key skills that the next generation of business owners feel are essential for their ability to lead their companies in the future are problem solving and strategic thinking (73%), leadership (73%) and communication skills (60%)
    • 90% invest in their education.

  • 25% of Romanian companies consider importing employees

    A quarter of the companies that participated in the PayWell 2019 survey conducted by PwC Romania are considering workforce import to cover the shortage of employees, in particular in low skilled and seasonal workers.

    Companies that have expressed this intention come mainly from sectors such as hotels and restaurants, construction or agriculture. A similar trend has appeared, according to the survey, in business process solution and IT&C services. Romania is facing an acute workforce shortage, especially in the mentioned sectors, as a result of migration, demographic problems or the education system in the last decades. According to PwC estimates, an additional 1 million employees are needed to support 3.5% growth by 2022.

    “The import of the workforce can be a temporary solution for some sectors. In the medium and long term, however, companies should focus on the adoption and implementation of education and development programs for employees’ skills, especially digital ones, given that over the next decade, the automation and artificial intelligence will replace most of the jobs that involve repetitive activities. Innovation and digitization will help streamline processes, and demand for less-skilled employees will decrease, especially in sectors such as agriculture or manufacturing, where jobs are most likely to be replaced”, said Ionuț Sas, Partner and People & Organization Leader PwC Romania.

    Approximately 600,000 jobs in Romania will be affected by the digital transformation generated by the new technologies, according to the PwC Workforce Disruption Index study. Of these, 275,000 could be replaced by automation.

    Although companies say they find it hard to hire, Romania has one of the largest shares of the inactive population in the European Union, according to Paywell 2019.

    „At the same time we are facing a paradoxical situation: we have one of the lowest unemployment rates in the European Union, of 3.2%, the lowest in the last 30 years, but we have the third highest level of inactive population between Member States. The causes are diverse and many of them are related to the structure of the economy because there are regions of the country where employment opportunities are very low or inexistent. Some companies have implemented education or training programs in these areas. Such an approach would contribute to the use of the existing human potential”, said Oana Munteanu, Senior Manager, People & Organization PwC Romania.

    Excluding retirees and the population over 15 years of age who are in education, over 1.1 million people are theoretically available to be employed.

  • OTP Bank launches the Rocket Loan for SMEs. Application is 100% online

    OTP Bank launches the first platform dedicated to clients that are Small and Medium Enterprises (SME) – Rocket Loan. Entrepreneurs who want to obtain one of the financing products on this platform can do so by applying 100% online.

    This innovative process meets the needs of customers, generated by the tendency of digitization and aligned with the organic development strategy of OTP Bank Romania.

    Thus, entrepreneurs can apply online on the new platform to obtain a diversified range of financing products, both unsecured and guaranteed, with a fast and simplified flow.

    Who can apply for Rocket Loan

    The Rocket Loan is intended for SMEs with an annual turnover of up to five million euros. It addresses both existing and new clients of OTP Bank Romania. The maximum amount that can be requested differs depending on the type of product selected and the financial situation of the company.

    The loan cannot exceed the amount of 300,000 € (or the equivalent in RON of this amount) and can be accessed both for the financing of the current activity and for the financing of investments.

    Thus, those who apply online for the Loan Credit will fill in a minimum set of information and upload on the dedicated platform a minimal set of documents: the agreement for questioning at the Credit Bureau, the consultation one for the Credit Risk Center and the last annual balance sheet.

    Based on the information submitted, in a few seconds, a preliminary answer will be received regarding the request, and the approval of the financing will be made within 24 hours at the most. In addition, for even more comfort, customers have the opportunity to select the branch where they want to sign the credit documentation.

  • Webhelp acquires PitechPlus, a software solutions expert

    Webhelp announces the acquisition of PitechPlus, a Romanian company that designs, develops and deploys custom – made software solutions, particularly in the areas of sales digitalization and process automation.

    PitechPlus already supports major European companies in their digital strategy in several sectors including automotive, tourism & travel, public administration and online gaming.

    This acquisition reflects the Webhelp group’s strategy to strengthen its technological services to support its clients in the implementation of their digital transformation by offering them tailor-made solutions combining customer relationship management, artificial intelligence and automation.

    This transaction will increase expertise and growth drivers for both companies

    For Webhelp and its consulting subsidiary GoBeyond, PitechPlus increases its methodological know-how on application development and management (agile method, sprints development) as well as strengthening capability with 250 experts in software development and integration.

    Its ability to act as a certified integrator of Robotic Process Automation solutions represents a key differentiator in a market where AI and automation are growing in importance.

    This unique combination of expertise complements Webhelp’s existing capabilities to design and develop technology services in areas such as voice and data analytics or mobile apps development.

    For PitechPlus, Webhelp provides strong commercial synergies (more than 500 customers now trust Webhelp to manage and optimize their customer relationship), access to new markets and the opportunity to integrate artificial intelligence and machine learning features into its custom software solutions.

  • Record for Audi in august: almost 60.000 vehicles sold in China

    Audi reported a record of 427,447 vehicles delivered in China in the first eight months of the year, up 2.4% year on year, Money Buzz learned from an article published by Xinhua Silk Road team.

    A total of 58,580 Audi vehicles were sold in China in August, up 2% from a year earlier, also hitting a monthly record for the same period. Audi Q5L, assembled in China, made the greatest contribution to the sales last month, delivering 13,785 vehicles, 25.3% higher than the same period last year.

    To bring more choices to Chinese consumers Audi will roll out more new models, including the e-tron, luxury SUV Q8, as well as the all-new A6 Allroad and A6 Avant.

  • Green Group is launching the first sustainable syndicated loan in Romania

    Green Group has signed the first sustainable syndicated loan in the Romanian market, with a group of four local banks consisting of ING Bank, Unicredit Bank, Intesa Sanpaolo Bank and OTP Bank Romania, marking the beginning of larger scale involvement of the Romanian banking system in the local circular economy.

    ING Bank Romania acted as coordinator and documentation agent. Arrangers were ING Romania and Unicredit. ING Bank London acted as facility and security agent. Transaction amount was 66,000,000 EURO, aimed to refinance existing loans and support new investment and development projects.

    With a unique business model which integrates the operations of 6 companies, Green Group is an important player in the European market for treatment and recycling of various types of waste such as: PET, glass, electrical and electronic equipment and used lighting equipment.

    The new funding line supports EU efforts to stimulate a sustainable economic model, thus facing the shift to circular economy and tackling climate change by reducing greenhouse gas emissions. For example, the production of synthetic fibers from 100% recycled PET reduces the C02 footprint by 75% compared to gasoline production.

    With a total investment of € 170 million and an installed recycling and production capacity of more than 460,000 tonnes per year, Green Group has an important contribution to the recovery of valuable waste materials. At the same time, Green Group contributes significantly to the recycling targets in Romania for both plastic waste (PET), glass and waste electrical and electronic equipment (WEEE).

    Since the takeover by Abris Capital Partners in 2016, Green Group has grown significantly.

    Plastic Waste Recycling and Polyester Synthetic Fiber Production

    • 21 million EUR investment in a new plant for the production of polyester synthetic fiber in Urziceni, Ialomita County, with state-of-the-art technology and modernization of the existing factories in Buzau and Iasi, increased the installed production capacity by 55% to 80,000 tonnes /year;
    • 13 million EUR investment for the automation of the sorting and recycling lines in Buzau increased the PET waste processing capacity by 50% to 100,000 tonnes per year;
    •  8 million EUR investment in a new PET waste processing plant in Lithuania with an annual recycling capacity of 20,000 tonnes / year;
    • 13 million EUR investment in a new PET waste processing plant in Slovakia with a recycling capacity of 45,000 tons / year.

    Waste Electrical and Electronic Equipment recycling (WEEE)

    • 11 mil EUR investment to strengthen leadership in the WEEE recycling market by opening the second plant at Campia Turzii, Cluj County, and to upgrade the recycling lines of the Buzau plant, thus doubling its treating capacity to 100,000 tons / year.

    „Green Group is the pioneer of the circular economy in Romania, managing to move from recycling to upcycling, which means we can get high-quality polyester synthetic fiber from a PET bottle with the latest technology. Green Group uses a regenerative economy model, recycling 3 billion bottles of plastic per year, which means about 600,000 km of PET bottles, that is, one and a half times the distance from Earth to Moon”, said Constantin Damov, CEO Green Group.

  • Road closures causing havoc to commuters

    Road closures causing havoc to commuters

    Cream skimmed from milk may be called “sweet cream” to distinguish it from cream skimmed from whey, a by-product of cheese-making. Whey cream has a lower fat content and tastes more salty, tangy and “cheesy”. In many countries, cream is usually sold partially fermented: sour cream, crème fraîche, and so on. Both forms have many culinary uses in sweet, bitter, salty and tangy dishes.

    Produced by cattle (particularly Jersey cattle) grazing on natural pasture often contains some natural carotenoid pigments derived from the plants they eat; this gives it a slightly yellow tone, hence the name of the yellowish-white color: cream. This is also the origin of butters yellow color. Cream from goats milk, water buffalo milk, or from cows fed indoors on grain or grain-based pellets, is white.

    Cream is used as an ingredient in many foods, including ice cream, many sauces, soups, stews, puddings, and some custard bases, and is also used for cakes. Whipped cream is served as a topping on ice cream sundaes, milkshakes, lassi, eggnog, sweet pies, strawberries, blueberries or peaches. Irish cream is an alcoholic liqueur which blends cream with whiskey, and often honey, wine, or coffee. Cream is also used in Indian curries such as masala dishes.

    The Secret Life Of Benjamin Franklin

    Both single and double cream (see Types for definitions) can be used in cooking. Double cream or full-fat crème fraîche are often used when cream is added to a hot sauce, to prevent any problem with it separating or “splitting”. Double cream can be thinned with milk to make an approximation of single cream.

    The French word crème denotes not only dairy cream, but also other thick liquids such as sweet and savory custards, which are normally made with milk, not cream.

    Different grades of cream are distinguished by their fat content, whether they have been heat-treated, whipped, and so on. In many jurisdictions, there are regulations for each type.

    The Australia New Zealand Food Standards Code – Standard 2.5.2 – Defines cream as a milk product comparatively rich in fat, in the form of an emulsion of fat-in-skim milk, which can be obtained by separation from milk. Cream must contain no less than 350 g/kg (35%) milk fat.

    Canadian cream definitions are similar to those used in the United States, except for “light cream”, which is very low-fat cream, usually with 5 or 6 percent butterfat.

    Regulations allow cream to contain acidity regulators and stabilizers. For whipping cream, allowed additives include skim milk powder (0.25%), glucose solids (0.1%), calcium sulphate (0.005%), and xanthan gum (0.02%).

    Russia, as well as other EAC countries, legally separates cream into two classes: normal (10–34% butterfat) and heavy (35–58%), but the industry has pretty much standardized around the following types: