The European Bank for Reconstruction and Development (EBRD) and Romanian FMCG transporter Aquila have agreed to the terms of a EUR 5 mln loan extended by the bank along with an option to buy shares of up to another EUR 5 mln from the group's founders - C?t?lin Vasile and Alin Dociu. The financing package thus amounts to EUR 10 mln. The proceeds from the loan will enable Aquila to finance the expansion of its portfolio of brands (currently including 'Gradena' refrigerated vegetables and 'Yachtis' refrigerated fish and seafood), new warehouse automation, a new ERP system, as well as other working capital and capital expenditures needs, the EBRD says in a press release. These investments will improve the reach of Aquila's brands, as well as improve warehouse productivity and help the company enhance its digitalisation. Aquila Part Prod Com (Aquila) is the largest FMCG distributor in Romania and the Republic of Moldova, delivering to 67,000 selling points. It operates a network of 14 distribution centers and a fleet of over 1,600 vehicles. The company's turnover reached EUR 370 mln in 2020, according to Ziarul Financiar.
President Nicușor Dan stated on Monday, November 10, that Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. “Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. Why? First of all, because it has a […]
Officials in the mountain resort town of Râșnov, central Romania, have issued an urban planning certificate for the transformation of a Boeing 737 airplane into a premium accommodation unit. The plane will be placed near the famous Bran Castle, and organizers expect it to become a tourist attraction. “The project is located in the Pănicel […]
Traffic (Jaful Secolului), a Romania-Belgium-Netherlands co-production directed by Belgian-Romanian director Teodora Ana Mihai from a screenplay by Romanian filmmaker Cristian Mungiu, has received the award for best film at the Tertio Millennio International Film Festival in Rome. The jury of the festival noted in its motivation the film's "ability to combine formal rigor and human […]
The Romanian Justice Ministry advanced a legislative initiative according to which femicide could be punished with life imprisonment. The proposal comes after numerous women were killed this year by former partners, despite protection orders. The debate about femicide in Romania was brought back to the fore after another tragedy took place on Saturday, November 9, […]
Cultural center Apollo111, located in downtown Bucharest’s Universul Palace, has announced the program of arthouse films Apollo111 Cinema. The performance venue of Apollo 111 has been refurbished and endowed for professional film screenings. It will run a weekly program of contemporary and classic auteur films, meetings with filmmakers, and an experimental area, meant to “explore […]
Chinese consumer electronics manufacturer Xiaomi announced the official opening of its first own store in Romania, in Bucharest, inside the ParkLake shopping center, on the ground floor, on November 22. The new store will have a surface area of 150 square meters and will bring to the public the latest smartphones, accessories, and smart devices […]
