Metinvest to acquire ArcelorMittal pipe products in Iasi
According to the notification of the European Commission dated October 29, Metinvest plans to acquire full control over ArcelorMittal Tubular Products Iasi S.
A. (AMTP Iasi) in Romania.
Under the proposed deal, Metinvest, a vertically integrated mining and steel group controlled by Ukrainian businessman Rinat Akhmetov and Smart Steel Limited (Cyprus), will acquire all shares in AMTP Iasi, a Romanian manufacturer of fine-welded carbon steel pipes currently controlled by ArcelorMittal S.
A. (Luxembourg).
Neither Metinvest nor ArcelorMittal responded to a request for comment on Wednesday.
According to ArcelorMittal's annual report for 2024, ArcelorMittal Tubular Products Iasi, part of ArcelorMittal's sustainable solutions segment, shut down its pipe workshop No. 2 (R220) in July 2024.
Metinvest aims to expand its production facilities in the EU, including Promet Steel in Bulgaria, as well as Trametal and Ferriera Valsider in Italy. The Ukrainian company recently confirmed to Kallanish its interest in acquiring troubled Romanian steel producer Liberty Galati. In addition, the company is building a joint venture with Danieli for the production of low-emission rolled products in Piombino, Italy.
Elina Virchenko UAE
Kallanish.com