Pricewaterhousecoopers opens a new regional office in constanta

PricewaterhouseCoopers is opening a new office in Constanta on 5 September 2007.

This office will provide tax and legal consultancy services for companies operating in various industrial sectors, as well as in the public sector. The Constanta office, in the Millenium Business Center, joins the four other PricewaterhouseCoopers offices in Bucharest, Cluj, Timisoara and Chisinau.

The opening of the Constanta office is part of the successful strategy of PricewaterhouseCoopers to follow its clients into areas of significant potential for developing their business. The south-east of Romania, with the main transport and logistical hub of the port city of Constanta, may have the potential of becoming the main gateway for goods from Asia into the European Union. At the same time, the Danube may represent an efficient alternative for the transport of goods to and from other member states.

The new office will be officially opened by a launch event including speeches by Vasile Iuga, Territorial Senior Partner for PwC Romania, Peter de Ruiter, Head of Tax and Legal Services, Daniel Anghel, Tax Director and Florin Manole, responsible for the PwC office in Constanta.

The opening event is being held at the Rex Hotel in Mamaia. Guests include representatives of large corporations operating in the south-east of Romania, representatives of public authorities and the local administration from Constanta, Tulcea, Ialomita, Calarasi and Galati counties.

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PricewaterhouseCoopers has been present in Romania since 1991 and currently employs over 600 people, overseen by twelve partners.

This event confirms the excellent financial results of PricewaterhouseCoopers in Romania and reinforces the developing trend of the firm. For the financial year ending 30 June 2007, PricewaterhouseCoopers registered a turnover of 40.5 million USD in Romania, up about 20% on the previous year. Vasile Iuga, Territorial Senior Partner estimates that PricewaterhouseCoopers presently has a market share of around 13-15% in Romania, which confirms the leading position of the company on the local market.

Notes to Editor:

1. PricewaterhouseCoopers (www.pwc.com/ro) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 140,000 people in 149 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

2. "PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.