Metinvest completed the acquisition of ArcelorMittal Tubular Products Iași.

Metinvest, a mining and metals group, completed the acquisition of ArcelorMittal Tubular Products Iași, a Romanian producer of welded structural pipes for the construction, engineering, infrastructure, and agricultural sectors from Arcelormittal, a steel manufacturing corporation. Financial terms were not disclosed. “Our assets in Ukraine have historically produced large volumes of hot-rolled coil for both the domestic market and export. The location of the new asset in Romania – only 600 kilometres from Zaporizhzhia – enables us to supply up to 180,000 tonnes of hot-rolled coil produced by Zaporizhstal JV every year. This will secure regular orders and stable operations for the Romanian plant,” Oleksandr Myronenko, Metinvest СOO.