White Mountain Property

Business

•  Romanian batteries producer Rombat will invest €10 million in producing batteries for hybrid vehicles, and an additional €4 million in 2010 in the construction of micro-hydroelectric power plants as part of its “Green Energy” project.

•  American milling and bakery products company Vel Pitar will invest €7 million in 2010 in expanding its range of products and in optimising its utility costs.

• Romanian businessperson Bobby Paunescu invested an estimated €4-8 million in acquiring two local press publications from Swiss media company Ringier: Capital and Evenimentul Zilei.

• State-owned railway transport company CFR Calatori will invest an estimated €1.3 million in modernising 72 driving cabs for thirty-six locomotives.

•  Romanian processed meat manufacturer Cris-Tim will invest €1 million in the construction of a milk factory. The new factory will have a production capacity of 10,000 litres per day and is set to become functional in 2011.

•  Romanian electronics and home appliances retailer Altex will invest €500,000 in 2010 in opening new stores in Arad and Slatina (Olt County); and either Tulcea or Resita (Caras-Severin County); also they will invest €300,000 insecurity systems.

•  Polish  bottled water producer La Fantana invested €500,000 in entering a new product into the market: 10-litre water bottles for home usage. 

Real Estate

• Romanian businessperson George Copos will invest €12 million in 2010 in modernising several hotels. The project will include the five-star units Hilton and Crowne Plaza, both in Bucharest, for which he will assign €4 million.

   

Exchange Rates

The National Bank of Romania (http://www.bnr.ro/) exchange rates as of February 15, 2010:

                                                1 EUR =    4.1270 RON
                                                1 USD =    3.0431 RON