20.4 C
April 12, 2021

Vice PM Viorel Stefan: After ArcelorMittal will sell the Galati Steel Plant, production will increase, it will not decrease

Vice PM Viorel Stefan stated on Tuesday at the Parliament that after ArcelorMittal will sell the Galati Steel Plant (formerly Sidex), production will increase, it will not decrease, to comply with the European competition rules.

“Sidex is part of a larger package consisting of 7 steel plants, of which 6 steel plants will have to be taken by a single investor. The transaction will be monitored so that production will increase in these steel plants, instead of decreasing, since otherwise there will be unwanted consequences in terms of competition on the hot and cold rolled products market. The assignment can only be made with the explicit consent of the Romanian state” Viorel Stefan stated. He participated in a conference on the competitiveness of the energy-intensive companies, organized by Intact.

“There will be also a post-transaction monitoring (e.n. – after the sale of Sidex), for 5 to 10 years, since all the necessary guarantees will be taken in order to grow the business, and not to diminish it, for all the taken units” the Vice PM mentioned.

The Galati steel plant is on the list of units available for sale by ArcelorMittal, in order not to breach the rules of the Competition Law and those related to the monopoly.

“In the current analysis of the European Commission on the Ilva unit (Italy) – it submitted a proposal of a separation package to meet the concerns that the Commission showed during the checks. The proposed separation package includes the following assets: ArcelorMittal Piombino (Italy’s only galvanizing line), ArcelorMittal Galati Romania, ArcelorMittal Skopje Macedonia, ArcelorMittal Ostrava the Czech Republic, ArcelorMittal Dudelange Luxemburg, the Galvanizing Lines no.4 and 5 from Flemalle; the pickling, the cold rolling lines and covered metallic packages from Tilleur, all of these in Liège, Belgium” reads a press release recently issued by ArcelorMittal.

ArcelorMittal is the world leader in the steel industry and in mining, being present in 60 countries and having an industrial footprint in 19 countries. In 2017, ArcelorMittal registered a turnover of USD 68.7 billion and a steel production of 93.1 million tones.

Related posts

Oncochain, an oncology research platform, targets € 350,000 on SeedBlink, of which 200,000 through equity crowdfunding


Finance Minister: Romania can be a part of the European level decision on financial aid for Greece

Nine O' Clock

TechFest connected by Vodafone brings on stage international players in the blockchain area and Artificial Intelligence

Nine O' Clock