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July 31, 2021

ArcelorMittal Hunedoara, capital injection or winding-up

ArcelorMittal Hunedoara (SIDG) is consulting its shareholders about a RON 397.6 M injection of capital or winding-up the company, after net assets have dropped to less than the registered share capital following 2009 losses amounting to RON 222.5 M. “If shareholders do not approve the winding-up of the company, we will take a vote on increasing the registered share capital by a contribution in cash; we need to do that in order to increase net assets and use received amounts in current operations as well as to pay creditors,” the notice sent to the Stock Exchange reads, according to Mediafax. ArcelorMittal Hunedoara could issue 159.06 M shares with a par value of RON 2.5. The shareholders will discuss the proposals on July 23 and, if they agree to the injection of cash, the company’s registered share capital could grow from the current RON 147.49 M to RON 545 M.

ArcelorMittal at the end of January was announcing EUR 43 M investment in its Hunedoara complex where it was planning to build a rolling mill as part of its 2004-2011 investment programme worth some EUR 69 M.

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