November 25, 2017

African Industries wants to take over former Mechel Romania

Indian group African Industries showed increasing interest in taking over the five factories previously owned by Mechel in Romania. Tommaso Serrano, who represents African Industries in Romania, confirmed the ongoing talks with the owner of the factories, Invest Nikarom, and has made an offer for the entire package. It includes factories in Targoviste, Ductil Steel Buzau, Campia Turzii, Otelu Rosu and Laminorul Braila. The offer also includes taking over the debt of these factories. In Romania, African Industries is active via African Steel Mills, which in 2010 started building a steel plant in Oltenita, with a EUR 150 million investment.

Source: Nine o’clock (read more)

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