The signing ceremony of the memorandum between the Romarm National Company, Electromecanica and Raytheon Missiles & Defence for manufacturing SkyCeptor intercepting missiles in Romania took place, at the headquarters of Electromecanica Ploiesti."Romania will become the first country that could use on the ground the newest version of the Patriot anti-air and anti-missile defence system, manufactured by Raytheon Missiles & Defence, a division of Raytheon Technologies. Military acquisitions, industrial cooperation and the development of a strong national defence industry are vital elements for shaping the security profile of Romania, a member of the European Union and NATO. (...) I am expecting to have a functional collaboration in the shortest time, a long-term process and a development strategy for the two companies that come in to support Romania's defence strategy, but also to join in in supporting Romania's positioning as a strategic supplier in Europe and in the international military equipment environment," the Minister of Economy Florin Spataru said.In context, he referred to the war in Ukraine, showing that public-private partnerships represent the structure which the defence industry must function in the long-term.In turn, the Minister of Defence highlighted the importance of revitalizing the defence industry."I am glad that Electromecanica Ploiesti is a partner and can be a partner for such an important player on the global defence market. Raytheon Technologies is a very important partner for the Ministry of National Defence, we have a lot of acquisition projects, exceptional collaboration with one of the most important players in the global defence industry market," Vasile Dincu declared.Furthermore, he said that this type of missiles is adapted for the Patriot system, is cutting edge and has a "fantastic advantage" because it is cheaper.Skyceptor is a long-range interceptor that has low costs and is developed for defending against ballistic and cruise missiles and is proposed for future integration with the Patriot Air&Missiles Defence," said Wesley D. Kremer, the chairman of the American company Raytheon.
ASFAT, a wholly state-owned company operating under Türkiye’s Ministry of National Defence (MoND), has signed an agreement for the delivery of the light corvette Akhisar to the Romanian Naval Forces. This transaction represents a milestone for Türkiye’s defence industry, as it is the first international sale of a combat ship built in Türkiye to a […]
Wind projects with a total capacity of almost 316 MW have been declared winners in the third auction under the Contracts for Difference (CfD) scheme, above the minimum threshold set by the Ministry of Energy, according to sources quoted by Economica.net. The third auction was organised because of insufficient projects approved under...
Fitch Ratings has affirmed the long-term Issuer Default Rating (IDR) of Romania-based, state-owned bank CEC Bank at BB/stable, its Viability Rating (VR) at bb, and Government Support Rating (GSR) at b, based on the bank's moderate, albeit strengthening, business profile, adequate capitalisation, and reasonable funding and liquidity. This puts the Romanian bank's rating two notches […]
Romania's Ministry of Transport blocked a key procedural step required for the listing of Bucharest Airports Company on the Stock Exchange (BVB) after opposing an item on the shareholders' agenda concerning the resumption of the auditor selection process. The vote took place at the end of November, following a request by Fondul Proprietatea, which holds […]
Romania has begun work on a specialised production facility in Măgurele, near Bucharest, that will manufacture laboratory-grade mirrors and lenses, including components for the world’s most powerful laser hosted at the adjacent research centre, Digi24 reported. The...
The Treasury set a coupon of 6.55% for the 2-year state bonds on sale in the primary retail market in December, 40 basis points from 6.95% paid in November, and 65 basis points lower compared to October. The coupons for the other maturities have decreased accordingly to 7.1% for the 4-year maturity (-25 bp from […]
