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.
The Hanwha Group, a major South Korean arms manufacturer, intends to build an arms factory in Romania's southern Dâmbovița county within two years, with the prospect of it becoming a regional hub for systems, maintenance, and repairs. The announcement was made by Michael Coulter, CEO of Hanwha Global Defense, during a meeting with Romanian journalists. "In […]
The 10th edition of the Jazz in the Church festival will be held at the Lutheran Church in Bucharest from May 8 to 11, 2025, featuring a mix of artists recognized for their contributions to European jazz, as well as new artists. Among the major names on the lineup are Swiss artist Nik Bärtsch and […]
The famous Constanța Casino on the Romanian Black Sea coast has been fully restored and will be officially handed over to the Constanța City Hall in the coming days, the Ministry of Development has announced. The final inspection for the completion of the restoration work is scheduled for March 20, marking the last step before […]
Romania is one of five countries - alongside Bulgaria, Croatia, Italy, and Slovakia - where the executive has "deliberately undermined the rule of law in almost every aspect," according to a report by the Civil Liberties Union for Europe, or Liberties. Liberties launched its annual exercise in 2019 to track the European Commission’s rule-of-law reports, […]
Artiss Gallery is set to open a new exhibition, Temporal Harmonies: From Classical to Contemporary in Visual Art, at the Noblesse Palace in Bucharest on March 26. The event will feature a diverse selection of works from iconic classical painters like Theodor Aman to internationally recognized contemporary artists such as Adrian Ghenie. The exhibition highlights […]
Romania is assisting North Macedonia after the deadly nightclub fire on Sunday, March 16, by transporting four patients to hospitals abroad. The fire that broke out at a club in Kočani claimed the lives of at least 59 people and injured 155 others. The four young people in critical condition are being flown to Lithuania […]
