Beltrame, an Italian steelmaker, completed the acquisition of COS Targoviste, a Romanian special steel producer, for $37m. “The acquisition of COS Targoviste is an important step in the Beltrame Group’s expansion strategy in Romania and confirms our long-term commitment to the development of the local #steel sector. COS Targoviste has a strong history in the steel industry, so we are honoured to have the opportunity to revitalise this steel giant. We expect to start production in the existing steelworks and the two rolling mills in early June, in order to supply the internal market with #rebar and #wirerod and stop the market’s dependence on imports, especially in the context of the conflict in Ukraine," Carlo Beltrame, Beltrame Country Manager France & Romania.