BUSINESS

Mechel Campia Turzii resumes work

Having filed for insolvency in April, Steel maker Mechel Campia Turzii yesterday resumed production and could reach maximum capacity in ten days, company owner Invest Nikarom notes in a press release. Invest Nikarom says Mechel Campia Turzii has the necessary raw material in stock and that all the goods will be produced have been pre-ordered.

The raw material – laminated wire and billet – is procured from the Ductill Steel Buzau and COS Targoviste plants, both being under Invest Nikarom’s control. The steel plant posts RON 18.8 M loss in Q1, down by 17.5 per cent, and a turnover having collapsed from RON 81.6 M to RON 5.2 M. On Monday, Invest Nikarom also started an installation at COS Targoviste.

 

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