12 july 2018
JSW Steel, one of the leading steel producers in India, announced its intentions to acquire ArcelorMittal’s steel plant in Galati, Romania, BalkanEngineer.com learned from sources quoted by Reuters.
ArcelorMittal plans to sell its Romanian plant this year, thus enabling the company to take over the Ilva steel plant in Italy, the biggest one in Europe. The Ukranian industrial group Metinvest and the Italian steel producer Marcegaglia are also interested in this offer.
ArcelorMittal intends to finalize the sale by the end of this year with the help of Bank of America-Merrill Lynch.
The steel plant in the Danube port Galati in East Romania has an annual production capacity of 3.4 million tons of steel. In ArcelorMittal Galati work nearly 6 000 employees and in 2017 the turnover of the plant was over EUR 1 billion with EUR 33 million in losses.
Source of images: ArcelorMittal
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JSW Steel, one of the leading steel producers in India, announced its intentions to acquire ArcelorMittal’s steel plant in Galati, Romania.
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