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June 21, 2021

Italy-based company might purchase the Mechel Romania group

The delegate minister for Social Dialogue, Liviu Pop announced that a company from Italy expressed its intent to purchase the Mechel Romania group and keep the current activity sector of the five plants that will be put on sale, Mediafax reports. “They will come with explanations about this. According to talks with the Russian representative of the Mechel Romania group, the sale will target the maintaining of the activity and profile, without a change of destination,” Pop said. At the end of a meeting held at the Cluj Prefect’s office, with prefect Ioan Vuscan, he added that the idea resulting from the talks he had with the representative of the Mechel Romania group was that the Russians want to get USD 150 M for the five Romanian plants. According to the same source, a first meeting between Mechel Romania and the Italian company will take place next week. As for the Mechel Campia Turzii plant, Pop assured that it will be mothballed and no machine will be sold as scrap iron. In his turn, prefect Ioan Vuscan said that he will go to China at the end of October, to discuss a possible investment in a tractor factory at Campia Turzii. Russian metallurgy group Mechel put on sale many assets, including the plants it operates in Romania, and wants to obtain – according to Kommersant.ru – USD 150 M for Mechel Targoviste, Mechel Campia Turzii, Laminorul Braila and Ductil Steel. The group wants USD 46 M for Mechel Targoviste, USD 33 M for Mechel Campia Turzii, USD 32 M for Laminorul Braila and USD 39 M for Ductil Steel. Mechel is selling many assets to cut its debts and finance a mining project, including the companies it controls via Eastern European Steel Division SRL, which coordinates the group’s operations in Romania.

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