brcc news & views july 2014

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www.brcconline.eu BRCC NEWS & VIEWS British Romanian Chamber of Commerce Issue 14, July 2014 D ear Members, Most of you will know that we are putting much effort into promoting UK exports and investment into Romania. The BRCC signed an agreement with the UK Government department UK Trade and Investment (UKTI) in July 2013. This agreement provides for a gradual handover of certain UKTI responsibilities to the BRCC in return for an element of grant funding. In return, we at the BRCC have to promote Romania to UK companies and help them to export and invest. In 2014, both our Chief Executive Officer Richard Reese and I have been talking to UK companies about the opportunities in Romania. We have given presentations to chambers of commerce in Nottingham, Colchester, Liverpool, Plymouth, Rotherham, Leeds, Peterborough and London, and also attended trade association meetings. We also have a full programme of visits for the second half of this year. The BRCC in Bucharest hosted a Trade mission from Nottingham in April, and further Trade missions are planned for September. So what do we do? Fundamentally we “sell” opportunities in Romania to UK companies. We brief companies on the business climate, and Promoting British exports and investment in Romania offer assistance in terms of matchmaking with potential Romanian partners, we provide market intelligence reports, we organise and assist with trade missions and so forth. When UK companies visit Romania, they have the opportunity to use our Business Centre, with its Wifi, hot desk and meeting room facilities. Above all, we introduce UK visitors to potential partners. These include not just trading partners, but also consultants covering a wide range of services such as audit, tax, legal and recruitment advice. How do you fit in as members? The aim is to put you in contact with potential business partners that visit Romania, and also to put you in contact with UK companies where we know that they might be interested in your services. This provides potential business for both the UK company and yourselves. We will inform you of potential UK partners and upcoming trade missions. For your part, we have details of your companies on our database but if you are looking for particular opportunities please contact Cristina Ungureanu, our Account Manager, so that she can match your services to the needs of the UK companies. Cristina’s email address is: [email protected] I wish you all a pleasant summer. With best regards, Raymond A Breden Executive Chairman Bucharest, July 2014 BRCC CEO Richard Reese (second from right) with the panel of speakers at the International Food & Drink Summit , part of the International Festival of Business in Liverpool, June 2014

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British Romanian Chamber of Commerce (BRCC) quarterly newsletter

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www.brcconline.eu

BRCC NEWS & VIEWSBritish Romanian Chamber of Commerce Issue 14, July 2014

Dear Members,Most of you will know that we are putting much effort

into promoting UK exports and investment into Romania.

The BRCC signed an agreement with the UK Government department UK Trade and Investment (UKTI) in July 2013. This agreement provides for a gradual handover of certain UKTI responsibilities to the BRCC in return for an element of grant funding. In return, we at the BRCC have to promote Romania to UK companies and help them to export and invest.

In 2014, both our Chief Executive Officer Richard Reese and I have been talking to UK companies about the opportunities in Romania. We have given presentations to chambers of commerce in Nottingham, Colchester, Liverpool, Plymouth, Rotherham, Leeds, Peterborough and London, and also attended trade association meetings. We also have a full programme of visits for the second half of this year.

The BRCC in Bucharest hosted a Trade mission from Nottingham in April, and further Trade missions are planned for September.

So what do we do? Fundamentally we “sell” opportunities in Romania to UK companies. We brief companies on the business climate, and

Promoting British exports and investment in Romania

offer assistance in terms of matchmaking with potential Romanian partners, we provide market intelligence reports, we organise and assist with trade missions and so forth.

When UK companies visit Romania, they have the opportunity to use our Business Centre, with its Wifi, hot desk and meeting room facilities. Above all, we introduce UK visitors to potential partners. These include not just trading partners, but also consultants covering a wide range of services such as audit, tax, legal and recruitment advice.

How do you fit in as members? The aim is to put you in contact with potential business partners that visit Romania, and also to put you in contact with UK companies where we know that they might be interested in your services.

This provides potential business for both the UK company and yourselves.

We will inform you of potential UK partners and upcoming trade missions. For your part, we have details of your companies on our database but if you are looking for particular opportunities please contact Cristina Ungureanu, our Account Manager, so that she can match your services to the needs of the UK companies. Cristina’s email address is: [email protected]

I wish you all a pleasant summer.

With best regards,

Raymond A BredenExecutive ChairmanBucharest, July 2014

BRCC CEO Richard Reese (second from right) with the panel of speakers at the International Food & Drink Summit , part of the International Festival of Business in Liverpool, June 2014

Issue 14, July 2014 Page 2

BRCC NEWS & VIEWS

www.brcconline.eu

Founder and sustaining members make a significant

contribution to the running and development of the BRCC. As a founder member, you are given priority for sponsorship opportunities. You will also be given priority invitations to speak

at events or to meet visiting dignitaries and officials. There are also additional marketing opportunities for this level of membership. Founder members are also automatically represented on the Board of Directors and can attend

BRCC events at no charge.If you would like to support the BRCC and benefit from founder or sustaining membership, please see our website for more details or contact Agata Stefan.

www.brcconline.eu/membership

BRCC founder and sustaining members

NEW LOOK NEWS & VIEWS AND NEW WAYS TO COMMUNICATE WITH YOUfor you to access the information contained in it. We will also soon be updating the BRCC website to give you more opportunities to showcase your organsation, products and services.

I would like to thank you for your contributions to News & Views. Please continue to keep us informed of your news.

If you have any comments, ideas or suggestions about communications, and members’ promotional opportunities, please contact me or Agata Stefan.

Alina Coman BRCC Marketing Manager

[email protected] [email protected]

We hope you like this electronic version of

News & Views coming to you via Issuu. (Please get in touch if you would like a PDF version.)

We’re always looking for new ways to improve communication with members, so the format of News & Views is changing to make it easier

DUNLOP MILLS SRL KPMG

ALISON HAYES ATHÉNÉE PALACE MARES DANILESCU MARES

ROSIA MONTANA GOLD CORPORATION

SANDERS POLYFILMS STANLEYBET INTERNATIONAL

Issue 14, July 2014 Page 3

BRCC NEWS & VIEWS

www.brcconline.eu

In June, BRCC Executive Chairman Raymond Breden

and CEO Richard Reese took part in the ‘Export to Romania’ event organised by the Barnsley & Rotherham Chamber of Commerce.

The event gave delegates a chance to learn more about the Romanian and CEE markets and the opportunities that exist there for UK exporters.

Mr Reese then participated in the International Festival for Business 2014, in Leeds and Liverpool, with a focus on the food and beverages industry. The trade mission also included one -to- one match making sessions between Romanian and UK companies. The BRCC represented a number of Romanian companies at the event, including Universal, Macromex and the Transylvania Food Company.

We produced several reports in time for these events to provide information for anyone interested in investing in or exporting to Romania. These include two country reports: ‘Food and Drink in Romania’ and ‘The Textile Industry in Romania’, which are now available to BRCC members free of charge (copies are available in the British Business Centre training room).

On 15-16 July Mr Reese and Member of the Board of Directors Nicholas Hammond participated in ‘The Power of the Global Network’ event hosted by the Liverpool Chamber of Commerce

Left: Mr Reese gives a presentation on the CEE region with Ivana Winbladh of UKTI Slovakia. Right: a one-to-one meeting in Leeds.

BRCC British Business Centre Catch up with the latest news

STAY UP TO DATE BY FOLLOWING US ON

Coming up at the British Business Centre

Outgoing:

Incoming:

Publications:

International Trade Conference – 9 October (London)Explore Export – 10-13 November (London)Peterborough Trade Mission – 24 -26 September (Bucharest)Plymouth Trade Mission – TBD October (Bucharest) Furniture Industry in RomaniaMetal Processing in Romania

Richard Reese, BRCC CEO, meets Bal Aujla, Director of Vini & Bal’s Rustic Indian Curry Sauces at the International Festival for Business

(Continued on page 4)

BRCC News & Views No.14, July 2014 Page 4

BRCC NEWS & VIEWS

www.brcconline.eu

Top: Richard Reese on the CEE panel at The Power of the Global Network, Liverpool. Right: Mr Reese and Member of the Board Nicholas Hammond in a one-to-one business match making session.

as part of the International Festival for Business 2014.

Mr Hammond and Mr Reese, together with chamber representatives from Slovakia and Poland, discussed reasons why the CEE region is not to be missed when it comes to opportunities for UK businesses to export and/or invest abroad. The panel concluded that being only two hours away, having the fastest internet in the EU and fourth fastest in the world, along with high levels of ecommerce expertise, Romania is definitely a place to go to.

BRCC Summer PartyWillbrook Platinum Business & Convention Center, 20 June 2014

Sponsored by Willbrook, Oxford Gardens, Noerr, Deveho, Ursus Breweries and Halewood

(Continued from page 3)

PLEASE SEE THE LAST PAGE FOR THE BRCC TEAM’S CONTACT DETAILS

BRCC News & Views No.14, July 2014 Page 5

BRCC NEWS & VIEWS

www.brcconline.eu

Have you discovered these benefits yet?

G etting involved with the BRCC – through membership or

sponsorship – can help you meet key business objectives:

1. Raise your profileReinforce your credibility by sponsoring an event, and you’re not just present, but standing out from the crowd.

2. Reach your target marketOpportunities for highly targeted marketing.

3. Generate new sales leadsAs a sponsor, there are many ways to generate new leads and have more connections recommended to you.

4. Increase brand awarenessSponsorship means having your logo featured on marketing

communications to help increase your exposure and build brand awareness and recognition.

5. Communicate in personOpportunities for sponsors to speak at, or present to gatherings.

6. Give back to the communityThe BRCC supports many worthwhile causes. Sponsorship can be part of your CSR programme.

7. Access valuable dataIn addition to the research that you can access as a member, you can access useful marketing data as a sponsor.

WE WELCOMEOUR NEW MEMBERS

ARBIOGE Construction and

ContractingIntegrate Investment

Mackenzie CapitalPredoiu Law Firm

Shakespeare School SRL

Tagor PT Management(Click on the name to visit the website., if available)

Membership enquiries:+40 372 032 515

[email protected]

To find out about BRCC membership and sponsorship opportunities, contact Agata Stefan on +40 752 003 066 [email protected]

SPECIAL FEATURE

The UK Bribery Act 2010

The UK’s Bribery Act 2010 (the “Act”) has serious implications for Romanian

businesses working with UK companies and customers, and also for people working in Romania.

Many people will be familiar with the USA’s Foreign Corrupt Practices legislation, but there are important differences between the American legislation and the Act. The Act is wider in scope than the American legislation and covers bribery of people working in private businesses, as well as in national or local government.

The Act also defines what is meant by “bribery”. It is wider than many people may realise and includes other kinds of corruption or similar behaviour. In particular, informal “facilitation payments” made to speed up performance of a service to which a person is legally entitled are regarded as “bribery” under the Act.

British people and companies doing business in Romania are bound by the Act. Romanian people who normally live in the UK are likely to be in the same position. It is, therefore, very important to understand which acts are criminalised by the Act, regardless of whether or not they

would also be caught by the various provisions of Romanian law relating to corruption and similar offences, or indeed under the American legislation.

The other particular effect on people and businesses in Romania will be on how they do business with companies and people in the UK.

UK companies – and foreign companies carrying on a business or part of a business in the UK – are now under a strict liability to prevent bribery (as understood by the Act) anywhere in the world, by other people and companies acting on their behalf. This duty can be regarded as analogous to strict health and safety legislation, since the only defence to a breach of this duty is to prove that “adequate procedures” had been implemented to prevent bribery.

Romanian businesses which work with UK companies and other companies with a presence in the UK should, therefore, expect to be asked to demonstrate to their business partners and customers that they do take steps to prevent bribery (as it is understood in the UK) in Romania. Getting it wrong in Romania may have serious consequences in the UK for their business partners and customers.

The UK Bribery Act was the subject of the BRCC Evening Briefing in June, with an informative and comprehensive presentation by Neil McGregor, Solicitor & Managing Partner of McGregor & Partners.

In this article, Mr McGregor explains how the Act affects businesses and people doing business in Romania. This brief article is not, however, a substitute for specific legal advice.

The slides from the Evening Briefing are available on the BRCC website.

The Act’s definition of ‘bribery’ is wider than many people realise,

says Neil McGregor

www.mcgregorlegal.eu

BRCC News & Views No.14, July 2014 Page 6 www.brcconline.eu

BRCC News & Views No.14, July 2014 Page 7www.brcconline.eu

The new insolvency law represents a significant step forward because

it supports the business environment by providing more efficient debt recovery instruments; it offers solutions for preventing abuses of the debtor or the creditor throughout the proceedings and implements measures for carrying out the process within a reasonable period.

A welcomed intervention is the introduction of a chapter on insolvency prevention proceedings.

In this field, the debtor facing financial difficulties can resort to the procedure of ad hoc mandate and they may also enter into an arrangement with the creditor. The new law has adopted a series of measures aimed at speeding the insolvency proceedings, such as the introduction of a 120-day period of control on the part of the syndic judge or the limitation of the observation period down to a maximum of 12 months since the opening date of the proceedings.

Moreover, the new law provides for the possibility of financing the debtor during the observation period so that it may perform its current activities, whereas the claims of the financing party will have priority for recovery only if the financing has been obtained with the approval of the creditors’ meeting.

With respect to the budgetary receivables, the new law introduces the obligation of the fiscal authority to execute a fiscal control and to make a report within 60 days from the publication of the notice for opening the proceedings in the Insolvency Procedure Bulletin. The receivables found by the control are considered to be prior to the date of the opening of the proceedings, and the budgetary creditor is obliged to register a supplement of his initial claim of admitting his receivables.

With regard to the adoption of a reorganisation plan, the new law introduces some new essential rules. In order for the reorganisation plan to be voted in, it has to obtain the vote of the majority of the creditor groups, provided a minimum of one of the unfavoured categories accepts the plan, but at the same time the vote must also be a minimum of 30% of the total value of the state of affairs.

An important modification brought by the new law is represented by the clarification of the pro rata distribution modality of the amounts generated by the normal activity of the insolvent company through the payment programme.

As regards the current creditor’s rights, holding receivables

created by the insolvency proceedings, these claims should be paid by the debtor within 60 days, otherwise the creditor has the right, during the reorganisation period, to ask for the opening of the bankruptcy procedure of the debtor.

The new law stipulates as a novelty element that, in case the reorganisation plan fails and the company enters bankruptcy, the holders of the claims will participate in the distribution proportionally to the value of their claims as such have been entered on the final consolidated table.

Upon the opening of the proceedings, the claims can be settled by giving in payment of the debtor’s assets. Thus, the assets will be distributed to the creditor in exchange for the claims, based on a suggestion of that creditor.

A last element of absolute novelty is represented by the insolvency of a group of companies. According to the new law, more debtors belonging to a group of companies or a creditor having claims against these can file a joint request for the opening of the insolvency proceedings, a separate case being created for each group member.

The new Insolvency Code The essential, novel and amended elements

After deliberations on several exceptions of unconstitutionality, new law no. 85/2014 on insolvency prevention proceedings and

insolvency proceedings was passed by the Constitutional Court. It came into force on 28 June 2014.

www.noerr.com

SPECIAL FEATURE

By Diana Rizea and Razvan Caramoci,

Senior Associates, Noerr

BRCC News & Views No.14, July 2014 Page 8 www.brcconline.eu

The new Insolvency Code introduces new mechanisms allowing

for a higher degree of asset capitalisation and recovery of receivables, ensuring a more efficient procedure, in a shorter space of time and with a minimum of costs, as well as equal treatment to creditors of the same ranking, access to funding and a high degree of transparency and predictability.

In order to provide for better balance, the proceeding opening regime has been made equal for debtors and creditors, a threshold value has been established for the debtor in the same amount as for the creditor of 40.000 Lei.

An important change in the present law has been the access to funding sources in the insolvency prevention, observation and reorganisation proceedings, which allows for an adequate regime for the protection of these receivables.

In the creditors’ interest, and in order to combat abusive practices from insolvency practitioners or on the part of debtors regarding the delay in the proceedings, a limit to the observation period has been set at 12 months, starting from the moment the proceedings have been opened.

An absolute novelty in the new Code has been introduced in the very beginning under the name of “the private

creditor’s test”, whereby a solution has been found to the problem of public institution creditors which were unable to accept a reorganisation plan in case they did not recover the entire debt. Another novelty is the concept of indispensable creditors, identified as those entities that provide services, raw materials or utilities that have a crucial role in the debtors’ activity and that cannot be replaced by any other supplier offering similar services, raw materials or utilities, in the same financial terms.

As far as reorganization is concerned, the new piece of legislation brings certain advantages to creditors, granting them the right to propose a reorganization plan based on data and information put at their disposal by the judiciary administrator and by the special one. The law places the duty of providing all existing information necessary for the drafting of such a plan in the judiciary or special administrator’s responsibility.

Also, in order to create the framework for insolvency proceedings which maximises the debtor’s wealth and for creditors to recover receivables to a larger extent, a 60-day deadline has been established for the judiciary administrator to finalise an inventory of all the debtors’assets

Important changes in the new legislation are also to be found where the approval of the reorganisation plan is concerned. Thus, the approval of the plan has to be backed by creditors whose receivables account for at least 30% of the value of the creditors’ table, on top of the vote on the category of receivables, which will lead to a balance in the creditors’ vote and reduce the probability of fake company reorganisations.

Furthermore, under the new bill, the failure of the reorganisation plan provides for a re-enactment of the deleted debt. Thus, in case of bankruptcy, the passive will be considered to be the one in the final table before the reorganisation plan, from which the paid receivables will be subtracted.

Creditors with current receivables pending for a period longer than 60 days have been granted the right to ask for the opening of bankruptcy proceedings of the debtor’s company.

In the interest of creditors with receivables defined under article 175, paragraph 3, it has been established that, following a creditor’s proposal, the debtor’s goods can be granted and distributed to the creditors, in the receivables’ account, while maintaining the obligation to pay all sums that were due to creditors

on previous priority orders, as well as to those on the same priority level.

Insolvency Code: highlights of the main changesBy Lorena Stoian, Managing Associate, Predoiu Law Firm (a new BRCC member)

www.predoiulawfirm.com

SPECIAL FEATURE

BRCC News & Views No.14, July 2014 Page 9www.brcconline.eu

Romania is a civil law jurisdiction and the core employment regulation

is the Labour Code. Besides the Labour Code, specific tailored legal enactments regulate other employment-related aspects, such as employment safety and health, insurance for work accidents and professional diseases and social dialogue. Collective bargaining agreements also provide binding rules and obligations to be complied with by the employers.

General provisions on harassment and discrimination are applicable to all citizens in Romania. In addition, special provisions in respect of employees are regulated under the Labour Code. Thus, all direct or indirect discrimination towards an employee, based on criteria such as sex, sexual orientation, genetic characteristics, age, national origin, race, skin colour, ethnic origin, religion, political options, social origin, disability, family conditions or responsibilities or trade union membership or activity shall be prohibited. Similar provisions exist in respect

Şerban Pâslaru, Ţuca Zbârcea & Asociaţii

Getting the deal through – Labour and employment in Romania

of harassment that is sanctioned as a civil misdemeanour.

The main body responsible for the application of employment legislation is the Ministry of Labour, Family and Social Protection and its subordinated entities. Aside from the above, there are also other agencies responsible for the application of certain elements of employment law, such as the Romanian Immigration Office responsible for integration of foreign citizens in the labour sector.

Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Labour & Employment 2014 (published in April 2014, contributing editors: Matthew Howse, Walter Ahrens, Sabine Smith-Vidal and Mark Zelek of Morgan, Lewis & Bockius LLP). For further information please visit www.lbresearch.com

Under Romanian law, employees may not waive the statutory rights provided in their favour by the labour enactments. Any transaction that aims to waive those rights recognised by law to employees, or to limit such rights, shall be null. However, the law does not prohibit an employee from waiving the contractual rights provided to him or her following a negotiation held between the employee and the employers.

www.tuca.ro

SPECIAL FEATURE

BRCC News & Views No.14, July 2014 Page 10 www.brcconline.eu

NEW MEMBER

With the total value of non-performing loans estimated to

be approximately €10 billion for both residential clients and companies, banks in Romania have to block significant amounts of cash in provisions. The exit from this situation relies only in selling out the receivables on the market.

In order to help banks on this issue, Tagor has launched a new business division, Tagor Asset Management & Investments (TAMI). The aim is to find solutions, together with banks, by developing and executing operating development plans in order to maximise the value of distressed real estate assets, or by servicing banks to optimise non-performing loan (NPL)portfolios and start reducing actual provisions.

Ofer Lieberson, owner of TAMI explained: “Banks have started to be filled with repossessed assets and NPLs and this is definitely not their core business. TAMI, supported by Patron Capital and other international funds, has the experience and financial back-up to buy, invest equity and service these distressed NPLs or repossessed assets from banks so they can clean up their portfolios and get liquidity. We bring

Tagor Asset Management& InvestmentsCleaning up banks’ non-performing loans

significant real estate experience with substantial equity.

“The biggest issue for banks is not, actually, the tens of thousands of single apartments bought as collateral to retail mortgage loans, but the collateral submitted for corporate loans – huge land

plots, unfinished residential or commercial developments, logistical or production facilities with single purpose use, and so on” Mr Lieberson indicated.

For all these assets, value enhancement strategies must be identified and implemented. This may entail repositioning of the development if needed, project development and construction, management for completion of the project, marketing of units and assets etc., not to mention that on a daily basis properties require maintenance, guard and taxation costs, all weighting on banks’ balances.

Tagor is a real estate developer and asset manager working in Romania and representing Patron Capital, a €2.5 billion UK fund and other international funds. Tagor Romania has a unique integrated platform with senior managers experienced in all aspects of real estate investment, management and disposal, and extensive Romania-based relationships across all the disciplines necessary to source, value, price, carry out due diligence, acquire and manage collections of NPLs, and for the disposal of the underlying assets.

www.tagor.ro

Ofer Lieberson, owner of Tagor Asset Management and Investments (TAMI)

BRCC News & Views No.14, July 2014 Page 11

BRCC NEWS & VIEWS

www.brcconline.eu

BRCC NEWS & VIEWS

MORE REASONS TOORGANIZE AN EVENT NOWBook an event for 2014 and 1 in 10 delegates go for free

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BRCC News & Views No.14, July 2014 Page 12

BRCC NEWS & VIEWS

www.brcconline.eu

BRCC MEMBERS’ NEWS

The relationship between employee and employer is like a love story, according

to a bank CEO, taking part in the Best Employers Study, an Aon Hewitt engagement survey.

Similar to a love story, this relationship can be both fragile and volatile. But the good news is that employers who work at the courtship can make the love last throughout the entire employee lifecycle – despite rapid and continuous rising of the employee expectations and the fierce battle to attract and retain talent. The ‘secret recipe’ is a conscious, consistent talent management strategy.

What makes Romanian employees want to stay ‘involved’ and loyal in their ‘love story’ with the employer? How can the level of employee engagement in a company be measured? How do the employees themselves perceive the company they work for? The right answers to all of these questions, are in the engagement study Best Employers Survey, conducted by Aon Romania. The Best Employers Study gives the level of employee engagement of employees, and this level is always directly correlated with the financial performances of the subject company.

Besides information related to the employees’ perception of the company they work for, the findings give the possibility of benchmarking the results with those of other companies, both from Romania and Central and Eastern Europe.

Along with the engagement level, other dimensions are also analysed and evaluated: Trusted Leadership, High Performance Culture, Employer Brand and Sustainability.

Based on the final reports prepared by Aon Hewitt following the survey, companies can take appropriate measures for improving the respective indicators or to further preserve them, in order to achieve an overall better performance.

As a follow up, Aon Hewitt further assists the companies to find customised innovative solutions for issues related to the human capital and how to maximize this critical resource.

Is there a direct link between the level of involvement of employees and their retention level? Or between the productivity of a company and the level of employees’ absenteeism or attendance? What should a company do in order to have healthier employees, more engaged staff, more motivated people, for increased productivity and better financial performance ?

The employee benefit schemes, the health solutions for the staff, the retirement plans for senior people proposed by Aon Hewitt are all customised according to the particularities of the ‘love story’ between each employer and employee, aiming at perfect harmony between employees’ needs and expectations on one hand, and the financial resources and the benefit strategy of the company.

With over 30,000 professionals in 90 countries serving more than 20,000 clients woldwide, Aon Hewitt offers advice, designs, implements and manages a wide range of solutions that enable clients to cultivate talent to drive organisational and personal performance and growth, by increasing the engagement level of the employees.

A ‘love story’ by Aon Hewitt

www.aon.ro

Aon is the principal sponsor of Manchester United. Aon Risk Solutions was named BEST INSURANCE BROKER in both Central Eastern Europe and the Middle East/Africa at the 2012 Global Finance Awards and the MOST RECOMMENDED INSURANCE BROKER in 2012 for services and expertise by middle market buyers at the Business Insurance’s Buyers Choice Awards. Aon Risk Solutions also received THE INTERNATIONAL BROKER INNOVATION award at the Insurance Times Gala 2012. Aon Romania was named THE 2012 BEST CORPORATE INSURANCE BROKER OF THE YEAR by Financial Market Magazine and received the 2013 SPECIAL E-COMMERCE AWARD by XPrimm Media Group.

BRCC News & Views No.14, July 2014 Page 13www.brcconline.eu

New online store from Bo Concept

Fleximo furniture and accessories for children

The only, and largest, online store for furniture and accessories for kids is now

live. Fleximo.ro is your inspiration when it comes to planning your child’s room, but what makes it special is that here dreams come true.

Fleximo.ro collections are chosen from a desire to provide children with the perfect environment for development at home. These collections meet the needs of play, peaceful sleep, and health and safety for any child. Diana Stacie, founder of the brand Fleximo, discovered the advantages of intelligent design furniture, modular product that meets the most famous European standards of quality and safety.

She thought about everything that involved in arranging a children’s bedroom and brought together products and services that will help you get the best result possible for the little ones to enjoy a world of safety and imagination.

Fleximo.ro brings together furniture and accessories for infants, juniors and adolescents, manufactured by the most renowned manufacturers in the field, coming from countries

such as Denmark, Great Britain, Spain, Poland, the Netherlands, Romania and France. Traditional brands such as Flexa, Lifetime, Leander, Walltastic, Liontouch, Pinio, Pabobo, Lorena Canals, Innovation, Jollein, Green Future and Matera are now in Romania.

As you will see during your visit to the site, the products chosen for you and your child are certified internationally in terms of safety, strength and durability. Some of them have even won international awards for their concept of intelligent design which makes them grow with the child. The all-natural finishing of the furniture is made of non-toxic water-based paint. Textile accessories are made of natural fibres and certified OekoTex. That’s because your child’s health matters most.

On Fleximo.ro you will learn step by step how a newborn bed can grow with your child until school age, how a junior room can turn into a pirate ship or a princess paradise, and how wood or textiles may be safe for your baby when tested in the mouth! It also

shows how a desk can adjust to a child’s height and many other things that will help you enjoy your little one without worries and with satisfaction of knowing that your baby is growing safety.

For a complete baby trousseau, you no longer have to waste time searching all over town. You have everything here in the Fleximo range – the highest quality products and the best value for money.

On Fleximo.ro you can even ask for the support of a professional decorator or use applications that help you to see how the decorated room will look in 3D at the end and you can find various useful tips.

You can also test the products of furniture and accessories you see on Fleximo directly in the showroom located inside the commercial galleries of Mob expert Baneasa. Find out more on our website (below).

Subscribe to our newsletter before 21 September and receive a 10% discount on any fleximo.ro order!

www.fleximo.ro

From left: Baby Marsylia; Flexa Princess; and Lifetime Treehouse

BRCC MEMBERS’ NEWS

BRCC MEMBERS’ NEWS

The new boarding house at the British School Bucharest (BSB) will

be unique in international school provision in Bucharest. It will provide outstanding accommodation, excellent student welfare programmes and support, in addition to an engaging and appropriate social environment for boys and girls aged between 14 and 18.

The ethos of BSB’s new boarding house will be to provide a safe ‘home from home’ for young people who not only wish to work hard at school, but who also wish to experience the undoubted social benefits of living and learning amongst their friends and peers in a shared ‘home’. This unique international school boarding option will match the established quality of BSB’s existing programmes and

New boarding house at the British School in Bucharest

In September 2015, BSB will open a world class boarding house facility for a maximum of 25 senior students close to our beautiful campus in Pipera.

school aims. The purpose of our boarding house is to provide a framework in which children may develop socially, physically, academically and ethically.

Boarders at BSB will be prepared to become the business, social and political leaders of their generation, both locally and globally. The boarders at BSB will be cared for by an experienced and expert team of professional British educators, and will enjoy a programme that will enable our students to become independent, responsible and caring adults. BSB boarders will be endowed with the skills to become well-rounded, balanced individuals who are able to grasp opportunities and are prepared for managing life’s challenges. Whether in work or attending a top university, BSB boarders will

have the wisdom, confidence, intelligence and empathy to be successful.

Families and students will have the choice of residing at school full-time (throughout each term) or only living in school during the working week and returning home to their parents at weekends. Although BSB is opening a boarding house the school fully understands the importance of family in all children’s lives. More information about BSB boarding will be provided at the official launch of this important development in September 2014, in the meantime we thought it important to inform our valued stakeholders and clients of our plans, so you are aware of this exciting development when consulting with your current and potential staff about the educational possibilities available in Bucharest and Romania.

The BSB boarding house will provide a world class academic and pastoral facility for young people. If you have any questions or comments on our new boarding initiative please contact us.

Providing an engaging and appropriate environment for boys and girls aged 14 to 16, with excellent student welfare programmes and support

www.britishschool.ro

BRCC News & Views No.14, July 2014 Page 14 www.brcconline.eu

BRCC News & Views No.14, July 2014 Page 15www.brcconline.eu

BRCC NEWS & VIEWSBRCC MEMBERS’ NEWS

Pitman Training UK was formally launched in Romania in June at

Bucharest Professional Training College (BPTC) in the presence of key business leaders and HR executives. To mark the occasion, the event also included an open panel discussion with distinguished employers and corporate talent managers.

Officially welcoming the invited guests, the College Director, Peter J Wells emphasised the role and importance of continuing education both for individual personal growth and for organisational development: “Every organisation today, be they public or private, for profit or not for profit, must invest in a programme of continuous reskilling and upskilling of their employees to ensure that individuals and organisations maintain the effective skills, knowledge and competencies to function in an internationally competitive context.”

Representing the British Embassy in Romania and HM Ambassador to Romania, Chargé D’Affaires Esther Blythe congratulated the BPTC and Pitman Training UK on their collaboration, reiterating the UK’s strong commitment to continuing education and professional development and its importance. Ms Blythe also reminded the distinguished audience of educators and business leaders of the long and fruitful tradition of cooperation

Pitman trainingOfficially launched in Romania at Bucharest Professional Training College (BPTC), with BRCC and British Embassy support

in educational and training exchange that has existed between Romania and the UK. Representing the BRCC as an official social partner of the event, Colin Lovering welcomed the launch of Pitman Training in Romania. Stressing the importance of engaging in training that can reap tangible results, Mr Lovering warned against training that was merely a “tick-box exercise for HR managers,” advocating that “any investment in training should result in tangible change and evidence of increased performance, efficiencies and effectiveness.”

The launch event focused on the

unique learning methodology and flexible delivery model which has made Pitman Training UK the most recognisable and respected providers of vocational workplace training and qualifications in the UK and around the world.

Andrew Walters, UK Director of Training Development reminded the gathering of the longevity and reputation of Pitman Training, “For more than 175 years Pitman has been retraining, reskilling and upskilling individuals and organisations in order to maintain their professional competence and leading edge in a competitive work environment”. He went on to say: “We are delighted now to be able to share our expertise, success and the effectiveness of our training programmes and qualifications via Bucharest Professional Training College with Romanian individuals and employers.”

Clockwise from top left: Colin Lovering representing the BRCC; Peter J Wells, BPTC College Director; Esther Blythe, Chargé D’Affaires at the British Embassy

www.bptc.ro

BRCC NEWS & VIEWSBRCC MEMBERS’ NEWS

CHSH is proud to announce the opening of the new CHSH office in Chișinău, Repulic of Moldova. Continuous development has

made it necessary to open the new office.

The office in Chișinău specialises in corporate, mergers and acquisitions, privatisation, real estate, banking and IT.

Natalia Balaban, Attorney at Law, represents the new office, while the Coordinating Partner is Ovidiu Valeanu.

For more information and contact details, please visit:

CHSH opens new office in Moldova

www.chsh.com

Ovidiu Valeanu, Coordinating Partner of the new CHSH office in Chișinău, Moldova

Founded in 1994, PKF Finconta is one of the most important Romanian companies in the field of financial audit, accounting expertise and fiscal consultancy. This year, we are pleased to announce that we are celebrating two decades of professionalism, responsibility and integrity.

PKF Finconta has a team of 35 experts, and since 2006, we have been members of PKF International (PKFI), the eleventh largest network of accounting and business advisory firms with close to 300 member firms and correspondents in 440 locations in around 125 countries.

Celebrating 20 years

www.pkf.com

Thank you to all our collaborators! Your support

is an essential part of our existence and growth!

BRCC News & Views No.14, July 2014 Page 16 www.brcconline.eu

BRCC News & Views No.14, July 2014 Page 17www.brcconline.eu

Technology is the single greatest force driving the changes in the way we work, live and behave. The new, multiple devices we

deploy throughout our work day allow us to flow between tasks, fluidly, and frequently. Gesture, created by Steelcase, is the first office chair designed to support our interactions with today’s technologies. It was inspired by the movement of the human body and created for the way we work today.

Research: Global Posture StudyThe global study was conducted by Steelcase WorkSpace Futures and the Steelcase Design Studio.

They undertook a global posture study in 11 countries, observing 2,000 people in a wide range of postures and uncovered nine new postures as a result of new technologies and behaviours. They studied how the human body interacts with technologies and how it responds as workers shift from one device to another. Research revealed ergonomic implications that, if not adequately addressed, can cause pain and discomfort for workers.

The Gesture Chair Probably the best chair in the world

Because these new postures are not adequately supported, workers are uncomfortable, in pain, and doing long-term harm to their bodies. While technology boosts productivity, it can cause pain that disrupts our work, our ability to concentrate, and our creativity.

Based on this research, Steelcase designed the Gesture Chair to support posture changes specifically influenced by technology devices we use today.

We invite you to experience the Gesture Chair at our office in Baneasa!

The first chair designed to support our interactions with today’s technologies

Inspired by the movement of the human body , created for the way we work today

www.cos.ro

Corporate Office Solutions (COS) is a leading specialist in workplace consultancy & design, fit out, M&E works, project management and office furniture supply, for office interiors.

BRCC MEMBERS’ NEWS

BRCC News & Views No.14, July 2014Page 18 www.brcconline.eu

BRCC MEMBERS’ NEWS

The Delamode Group, an international logistics and freight forwarding company, has recently opened a new dedicated office

in Skopje, Macedonia. This extends the Delamode Group’s European network to 10 offices, which includes the UK, Bulgaria, Lithuania, Latvia, Estonia, Moldova, Montenegro, Serbia, Romania and now Macedonia.

The new Delamode operation in Macedonia offers weekly scheduled road groupage, FTL and PTL services between Macedonia and the following countries: UK, Germany, Spain, Italy, Baltics, Scandinavia, Poland, Romania, Bulgaria, as well as the following West Balkan countries - Kosovo and Albania.

Furthermore, with the Delamode Group’s vast expertise in delivering fashion and lifestyle logistics solutions, it can provide

Delamode opens office in Skopje, Macedonia

www.delamode-group.com

the Macedonia market with FTL and PTL textile and garment road transport, for both the import and export of products.

Delamode understands the importance of having robust domestic networks in place, and utilising its extensive industry knowledge, has developed highly efficient domestic networks throughout Europe, including the West Balkans - enabling the company to provide its customers with competitively priced and reliable services for the collection and delivery of shipments.

For sea freight requirements, the Delamode Macedonia office can offer FCL and LCL services via Thessaloniki, along with highly competitive

groupage services for shipments to the Far East.

BRCC News & Views No.14, July 2014 Page 19www.brcconline.eu

BRCC MEMBERS’ NEWS

24/7 Dental Clinic is situated in the Old City of Bucharest, capital of Romania. Our clinic

provides solutions to people who are looking for professional dental treatments at affordable prices, avoiding long waiting lists.

More and more people visit us specifically through dental tourism, due to our well-equipped clinic and qualified doctors, as well as the low prices compared to other Western countries. In order to rapidly solve dental problems, 24/7 Dental Clinic is the best choice for you!

About our locationOur dental clinic is located in Bucharest, which is one of the largest cities in the European Union. The capital of Romania is located about 60 km from the Danube, 100 km from the Carpathian Mountains and 250 km from the Black Sea.

The dental treatments we offer include:

24/7 Dental Clinic

In addition to our state-of-the-art dental services, we make it a practice to offer our patients a great deal of hospitality.

Our patients don’t need to be afraid of any dental treatment because:

We have been working in close •cooperation with a professional team of highly qualified, trained dental surgeons, dentists, dental

implantologists and assistants for many yearsOur friendly offices have a •calming atmosphere and provide excellent facilities with with all the up-to-date technical equipment of the 21st centuryWe use the newest West-•European and American technology and materialsWe carry out your dental •treatments at a favorable price, providing outstanding quality in the shortest timeWe are one of the few dental •clinics that provide Intravenous sedation in addition to extensive dental treatments in one session and medical hypnosis

We hope we have won your confidence, and that we will make your acquaintance as soon as possible. A perfect smile at any hour!

Treatment planIf you could send us a recent panoramic X-ray, and describe your dental problem, our dentists and dental surgeon can give you a treatment plan and a price quotation by email within 24 hours. If you don’t have a panoramic X-ray, we ask you to visit the nearest dentist (or hospital) and ask for one or if possible ask for a treatment plan. Then you can send the X-ray to us by email.

Travel, airport transfer and accommodationOur English-speaking organiser will gladly help you to arrange every aspect of your dental treatment from airport pickup to booking your accommodation in our town.

Our extra services for our patients are:

Airport transfer (from Otopeni •Airport) – included in the price of the treatmentAccommodation reservation•

Programmed organisation on requestOur pickup service (called dental taxi) is at your disposal. First, make an appointment, then book your flight ticket and inform us about your arrival and departure date. Our car driver will meet you at the arranged time and venue at Otopeni airport, or at the nearest railway station, and he will accompany you to your hotel.

Please find the list of our collaborating hotels on our website. You can make a choice and we will gladly book your preferred accommodation for you.

Our dental services and dental treatmentsOur dental clinic offers a full range of dentistry, from regular checkups to full mouth reconstructions and everything in between at the highest level, to keep your smile happy and healthy.

Free preliminary examination •and consultationFree treatment plan and •quotation (by email)Free comprehensive new •patient examFree annual check-up•Free airport transfer•Free Wifi Internet•Digital panorama radiograph •(Orthopanthomography)

Complete surgical and implantological dental treatments;Dental replacements (prosthesis, crowns, bridges) with the most modern medical and laboratory technical methods;Our strength is the ergonomic approach to the patient! (Meaning all treatments in one session).

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BRCC News & Views No.14, July 2014 Page 20 www.brcconline.eu

BRCC MEMBERS’ NEWS

JTI – special partner for Sibiu International Theatre Festival 2014

The Sibiu International Theatre Festival (FITS) is now in its 21st year. JTI was a special partner

of this performing arts festival – the largest and most important in Romania and the third largest in Europe – for the seventh year. Over 10 days, Sibiu hosted over 2,500 artists and delegates from more than 70 countries, presenting 381 different events. The festival attracted daily audiences of some 65,000 people who came to see theatre shows, dance performances, concerts, seminars, debates and conferences, both in and outdoors. Some of the most highly regarded international theatre directors were brought on stage: Lev Dodin, Wajdi Mouawad, Silviu Purcărete and Gianina Cărbunariu.

The dance performances combined the most diverse forms of expression presented by these innovative choreographers: Ohad Naharin, Cesc Gelabert and Jo Stromgen. It was a unique event in its diversity. This festival exists thanks to the involvement of almost all the embassies in Romania, who take the opportunity to promote their national heritage every year. So not only is it a fascinating cultural feast, but also a great example of diplomacy in action. As a result, FITS had a glittering guest list, including the ambassadors of Lebanon, Belgium, Chile, and Israel, with representatives from the embassies of the USA, Poland, and Canada, the Austrian Cultural Forum, the French Cultural Institute, the Czech Cultural Institute, the Wallonie Bruxelles Delegation, ministers from the Romanian Government, deputies and state secretaries.

JTI is further promoting Japanese cul-tural heritage amongst Romanians by supporting this event and nurturing

this strategic part-nership. The Jap-anese presence was also strengthened by the Embassy of Japan, the EU-Japan Fest Com-mittee, and various members of the Japanese comm-unity in Romania. This year, the Japa-nese section at FITS exceeded the aud-ience’s expectations when Japan’s two most important artistic institutions, To-kyo Metropolitan and Setagaya Public Theatre, staged their highly acclaimed productions. What’s more, Japan’s three main universities – Waseda University, Tama Art University and the Women’s University in Tokyo – were part of the student exchange programme at the festival, sharing their knowledge with seven other universities from around the world. A significant number of Jap-anese volunteers were part of the or-ganising team, as well. The Radu Stan-ca National Theatre in Sibiu, the main organiser of FITS, is now co-producing a new show in Tokyo, along with a tour in Japan. The famous director Kushida will be staging a show in Sibiu next season. Sibiu’s Walk of Fame unveiled seven new stars, one of which was presented by JTI to Gigi Căciuleanu for his unique choreography and his outstanding work with some of the world’s best

dance companies. The presentation was made by Klaus Iohannis, Mayor of Sibiu and Constantin Chiriac, President of FITS; the following Awards Ceremony, was broadcast on public television. Klaus Iohannis, Mayor of Sibiu said: “Sibiu International Theatre Festival is the largest and one of the oldest festivals in Romania’s cultural year. It delights the local and international audience – everybody here is a participant, not just a spectator. The power of the event is demonstrated every year by the quality of its audience. Constantin Chiriac, President of FITS stated: “Our partnership with JTI has become a strong relationship. JTI is one of the few companies in Romania that really understands the need for excellence. Behind such powerful projects, one always finds extraordinary people. Without people who have vision, who strive for excellence, nothing is possible.” On being awared his Walk of Fame star, Mr Caciuleanu declared: “This star has been given to me by another star: JTI. This company is a phenomenon that brings us so much joy through JTI Encounters every year. It is amazing how JTI not only helps us to become stars, but also to be better people.”Romanian choreographer Gigi Căciuleanu is awarded a star on the Sibiu Walk of

Fame for his outstanding work with some of the world’s leading dance companies

Phot

ogra

pher

: Cip

rian

Zinc

ă

www.jti.com

This year’s Festival attracted some 65,000 people a day

BRCC News & Views No.14, July 2014 Page 21www.brcconline.eu

BRCC MEMBER’S NEWS

Solid waste transfer, sorting and composting stations in Cristeşti, Mures County, an EU funded project implemented by Louis Berger

Energy touches every facet of our lives. It is the vital force powering our

homes, businesses, industrial facilities and vehicles, and is a fundamental factor in achieving and sustaining a high quality of life. Because so much relies on energy, few sectors are as challenging, especially at the nexus between energy, socio-economic needs and the environment.

In the last few years, Romania progressed considerably in the renewable energy sector and we at Louis Berger are very well equipped to support alternative energy technologies. We are referring especially to those who are putting to good use the much better managed solid waste as a subsequence of EU funded projects and dissemination

of best practices. With almost twenty-five years of experience in Romania and almost twenty in the environment sector, Louis Berger is excellently positioned to advise the public sector and private clients on how to develop dependable and affordable alternative energy solutions.

Louis Berger has longstanding experience in the waste-to-energy market where the processing of waste materials is used to obtain energy. For example, Louis Berger has recently carried out a series of studies and analyses and will supervise the construction of the first integrated waste management facility in Romania that covers the entire spectrum from sorting to recycling. It has the capacity to process over 25% of Bucharest’s municipal waste and to recycle it up to

100%. In other countries, we have undertaken projects that, for example, define the infrastructure necessary for the construction and operation of Biomass Gasification Units.

Our integration of engineering, planning, economic and environmental capabilities allows us to offer a full range of professional, energy-specific services globally. Our experienced team of engineers, planners, scientists, plant operators and other specialists have been involved in the full life cycle of energy-related projects, including contingency power generation; renewable energy; hydroelectric project licensing; cogeneration facility siting, permitting, and monitoring; gas pipeline siting and permitting; and electric transmission line routing.

About Louis BergerLouis Berger is a $1 billion global professional services corporation that helps infrastructure and development clients solve their most complex challenges. Louis Berger operates on every habitable continent and we have a long-standing presence in more than 50 nations, represented by the multidisciplinary expertise of nearly 6,000 engineers, economists, scientists, managers and planners.

Louis Berger and the waste-to-energy market

www.louisberger.com

BRCC News & Views No.14, July 2014 Page 22 www.brcconline.eu

The Neal Brothers Export Packing Group has developed into a truly international organisation, with major expansion during the past 10 years. This family owned, third generation company, will soon be celebrating its first century in business from a strong position.

We are pleased to announce that we will open our third Romanian export packing,

inventory management and storage facility in Cluj Napoca. Once again, we will be partnering with a number of well established companies in that area and supported by many business organisations. We would like to acknowledge our particular thanks to Erik Oord, Managing Director of BUFAB, also Shajjad Rizvi of the British Business Group Transylvania, our thanks also to the British Romanian Chamber of Commerce, the British Embassy and the Cluj Chamber of Commerce. Our newly built, modern, fit-for-purpose site, operates next to one of our leading customers. It adds to our base in Romania and also opens up part of the country with many links to Hungary and beyond in the West. With our other facilities in Romania we can also offer companies a range of services aiding their access to the East. “We are once again delighted to announce our further expansion within Romania” stated Geoff Pearson, CEO Neal Brothers Romania. “This third facility demonstrates our continued investment and commitment to the region, adding our services to a developing network of providers aiding manufacturers to ship products around the world. Once again, I would like to acknowledge the support and commitment of ourteam and welcome those joining us during this exciting time forour company” he said. Most of our packing centres are owned by the company and add to our portfolio of other commercial and residential properties; we have a solid foundation on which our business is built. We continue to invest

Neal Brothers to open third facility in Romania

in the business through both internal expansion and acquisition. Recent developments have been realised in Belgium, Romania, and Italy. We are also considering other opportunities particularly in Bulgaria, India, China and the Middle East. Whilst we are very focused on our core activity of export packing, we also have substantial experience in other disciplines such as warehousing and storage, logistics management, property rentals, machinery removals, packaging design and more recently verification/inspection services of both packed equipment and full trailers. We are certified by BVQI on ISO 9001 for quality, we are fully certified for health and safety, our green initiatives, including waste management and low emission vehicles etc. have allowed us to actively reduce our carbon footprint. We are registered members of various organisations including FPAL and INPRO, we’re ISPM 15 certified and many of our sites are able to handle and pack hazardous cargo and as known shippers we are security cleared to pack for airfreight. Our customers are well spread across a number of sectors. This not only gives us the knowledge and flexibility to adapt to their needs but also protects us when any specific sector suffers a downturn. Please visit our website (link below right) to see an introductory film about our company.

The story so far – Craiova and PloiestiNeal Brothers have been in Romania since 2007 when we were invited to supply a full package of services at a key customer’s manufacturing facility in Craiova. At the end of the initial contract,

we opened our own manufacturing facility, where we could offer our services to other potential users. We have now been working from our own Craiova facility since May 2010. Our initial footprint of has grown from 1,000 to 3,000 square metres. Our efforts in local sourcing backed by a professional, award winning purchasing system have made us more competitive. Our strategy of expansion in Romania continues and we have introduced a development strategy which is concentrated on the wider areas of Romania such as Ploiesti, Bucharest, Cluj, Constanta, Timisoara, Arad and Bacau. What attracts businesses to us is that we understand that Romanian manufacturers are looking to partner with companies that can offer full professional support in order that they can focus on their core competencies, improve delivery times to market and ensure full compliance with international packing standards, to expand use of economical shipping methods, to reduce in-transit damages and reduce expenditure as a percentage of goods sold. We are fortunate to have secured some good local people who are helping us break down the barriers. We opened our second facility in Ploiesti in March 2013.This services many oil and gas companies – a sector in which we have major international experience and are accepted by most of the major players in that industry. The new rail and motorway links open up the area giving easy access to Constanta and other crucial exit borders. The industrial parks that

continue to develop offer us the opportunities to grow our business in a modern, business friendly environment.

BRCC MEMBERS’ NEWS

www.nealbrothers.co.uk

BRCC News & Views No.14, July 2014 Page 23

BRCC NEWS & VIEWS

www.brcconline.eu

BRCC MEMBERS’ NEWS

RTPR Allen & Overy has advised the social media network Facebook in

a cross-border transaction for the acquisition of LiveRail Romania, a business specialising in providing online video commercials.

Mihai Ristici, Partner and Alina Stăvaru (Proteasa), Counsel, coordinated the RTPR Allen & Overy team of lawyers that offered advice on matters of Romanian law regarding LiveRail Romania.

Ms Stăvaru stated: “We are very honoured to have had the opportunity to make a contribution to this successful transaction that involved several areas of practice. This is another example of how the RTPR Allen & Overy team can provide a high quality service

in very intricate transactions. We continue to notice intense activity in the M&A field in the IT sector, having been involved in five transactions in only the last six months, three of which have already been signed. In particular, we refer to the legal advice provided to Enterprise Investors in relation to their exit from Siveco Romania, and also to Catalyst Romania in relation to the investment in Simartis Telecom, as well as to Facebook in relation to acquiring LiveRail group.”

Radu Tărăcilă Pădurari Retevoescu SCA (RTPR) and Allen & Overy have been working together in Romania for several years.

The main areas of activity are: financing, M&As, capital markets, insolvency and restructuring, competition, labour law, intellectual property law, litigation and arbitration, and providing advice across a range of business sectors including energy, telecommunications, finance, real estate and the pharmaceutical industry.

Allen & Overy is an international legal practice with approximately 5,000 staff, including some 525 partners, working in 43 major cities in 30 countries.

RTPR was incorporated in 2004. RTPR Allen & Overy has a team of 42 lawyers, including four

partners – Costin Tărăcilă, Victor Pădurari, Alexandru Retevoescu, Mihai Ristici, and also Professor Dr Lucian Mihai, Counsel.

Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow. Each office is renowned in the local market for providing top quality legal advice, combined with local commercial understanding, as well as for integrity and taking a proactive approach on matters.

RTPR Allen & Overy advise Facebook on the acquisition of LiveRail

www.allenovery.com

Mihai Ristici, Partner, one of the coordinators

Alina Stăvaru (Proteasa), Counsel, says the successful transaction involved several areas of practice

BRCC News & Views No.14, July 2014 Page 24

BRCC NEWS & VIEWS

www.brcconline.eu

Keswick Enterprises Group member company, Tibbett Logistics, announces

that it has extended its logistics business in Romania with an unnamed leading European multinational retailer to include the storage and distribution of non-food imports from Asia Pacific and European suppliers. As a result, the company has opened a dedicated 8,500 sq metre (91,500 sq ft) warehouse in Europolis Park on the western edge of Bucharest – its tenth distribution centre in the country.

Tibbett Logistics already handles storage and domestic distribution of the retailer’s imported dry food products, plus merchandise from Romanian suppliers, at a neighbouring 22,000 sq metre (237,000 sq ft) dedicated distribution centre in Europolis Park.

The company’s warehousing portfolio in Romania now exceeds 80,000 sq m (860,000 sq ft) – making it the country’s largest third-party provider of warehousing solutions.

The location of the new site was chosen with transport efficiencies in mind. Imported container freight from the Asia Pacific region is transported from the Port of Constanta to Bucharest by Tibbett Logistics’ regular block train service into its own intermodal (road-rail) terminal – located just 50 metres from the new import warehouse.

By the fourth quarter of this year, the company expects to

Tibbett Logistics extends retail logistics operations in Romania and opens tenth warehouse

Tibbett Logistics’ new retail imports warehouse at Europolis Park receives its first stock

be transporting intra-European imports via intermodal services as well – which will shift some 2,500 truckloads from road to rail – a saving of over 55 million tonne-kilometres a year.

This is the first new facility to be opened by Tibbett Logistics in 2014 and follows the inauguration of an automotive warehouse in Arad at the end of 2013. In 2012 the company opened a combined FMCG and automotive warehouse of 8,500 sq metres in Deva, plus a new platform for the handling of fresh fish in Bucharest. Further openings are expected to be announced later this year.

Tibbett Logistics is Romania’s largest privately owned contract logistics specialist. It provides intermodal logistics and extensive supply chain management

services to the automotive, textiles, retail and other FMCG sectors across Romania and elsewhere in South East Europe. As well as operating 80,000 sq metres of warehousing, the company has a distribution fleet comprising tilt trailers, double- and triple-chamber reefers and container chassis – along with its own intermodal rail wagons.

Tibbett Logistics is wholly owned by The Keswick Enterprises Group Limited, the UK-based private equity company specialising in logistics and supply chain-related services founded in 2004.

www.tibbettlogistics.com

BRCC News & Views No.14, July 2014 Page 25

BRCC NEWS & VIEWS

www.brcconline.eu

Disclaimer: THE NEWS, VIEWS AND OPINIONS EXPRESSED HEREIN ARE SOLELY THOSE OF THE AUTHOR(S). THE PUBLISHERS AND AUTHOR(S) BEAR NO RESPONSIBILITY FOR ANY ACTS OR

OMISSIONS CONTAINED HEREIN.

News & Views Managing Editor: Agata Stefan

Publisher: The British Romanian Chamber of Commerce ©

Your BRCC contacts

Romania: 1-5 Strada David Praporgescu, 2nd Floor, Apt.4 , Sector 2, BucharestTel: +40 372 032 515

UK: c/o British Expertise, London WC2N 5BY

Agata Stefan

Executive Director Romania

Tel: +40 752 003 066

[email protected]

News & Views editing, design and layout by Deborah Lamb www.deborahlamb.net

FOCUSED ON MEMBERS’ NEEDS

Richard Reese

Chief Executive Officer

Tel: +40 722 587 385

[email protected]

The BRCC team

Sergiu GhindaChief Financial Officer

Cristina Ungureanu Account Manager

Madalina Ciinaru Researcher

Alina ComanMarketing Manager