Metinvest announced on Wednesday, December 17, that it completed the acquisition of ArcelorMittal Tubular Products Ia\u0219i, in eastern Romania. The plant produces welded structural pipes for the construction, engineering, infrastructure, and agricultural sectors, with a maximum annual production capacity of 240,000 tonnes.<\/p>\n
The plant is Metinvest\u2019s first production site in Romania. Negotiations on its acquisition lasted several months.<\/p>\n
On November 24 this year, the group obtained approval from the European Commission to acquire the asset under the EU Merger Regulation. The following day, it received approval from Romania\u2019s national competition authority following a foreign investment screening procedure.<\/p>\n
Commenting on the completion of the deal, Yuriy Ryzhenkov, CEO of Metinvest, said: \u201cEven before the full-scale war, Metinvest began building a bridge between Ukrainian and EU steelmaking. For us, this new plant is a unique opportunity to provide work for two sites at once: in Ia\u0219i and Zaporizhzhia. It is part of our contribution to post-war reconstruction. I am confident that the plant\u2019s products will not only be in demand in the EU, but will also be required for rebuilding Ukraine\u2019s war-damaged infrastructure and industry.\u201d<\/p>\n
The Romanian plant is scheduled to be integrated into Metinvest\u2019s production and organisational chains in 2026. It has five pipe mills, two longitudinal cutting lines, and two coating lines.<\/p>\n
The group said it will honour all terms of existing employment contracts with the plant\u2019s employees in Ia\u0219i.\u00a0<\/p>\n
Oleksandr Myronenko, \u0421OO of Metinvest, said: \u201cOur assets in Ukraine have historically produced large volumes of hot-rolled coil for both the domestic market and export. The location of the new asset in Romania \u2013 only 600 kilometres from Zaporizhzhia \u2013 enables us to supply up to 180,000 tonnes of hot-rolled coil produced by Zaporizhstal JV every year. This will secure regular orders and stable operations for the Romanian plant.\u201d<\/p>\n
In addition to Ukraine and Romania, Metinvest has assets in Italy, Bulgaria, the United Kingdom, and the United States. The group\u2019s ultimate beneficial owner is Rinat Akhmetov.<\/p>\n
irina.marica@romania-insider.com<\/p>\n
(Photo source: press release)<\/p>","protected":false},"excerpt":{"rendered":"
Metinvest announced on Wednesday, December 17, that it completed the acquisition of ArcelorMittal Tubular Products Ia\u0219i, in eastern Romania. The plant produces welded structural pipes for the construction, engineering, infrastructure, and agricultural sectors, with a maximum annual production capacity of 240,000 tonnes. The plant is Metinvest\u2019s first production site in Romania. Negotiations on its acquisition […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8199","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/8199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8199"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/8199\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}