Ukraine’s Metinvest opens local subsidiary

Metinvest, the steel and mining group owned by Ukrainian billionaire Rinat Akhmetov, has opened an office in Romania, aiming to sell steel worth USD 200 million in the first year of operations.

The local sales office Metinvest Carpathia has seven staff  (support teams are to be added) and will handle orders from the company’s plants in Bulgaria, Ukraine and Italy.

The steelmaker will focus mainly on the construction sector, which is set to generate the biggest share of its revenues, according to Veselin Socolov (in photo), which heads the local operations. He said the company is also looking at other sectors, including machine building and pipe-making industries.

Although the company did not officially have an office in Romania, it has built up a portfolio of clients.

“We collaborate with around 50-60 customers. Most of them are Romanian-owned companies,” Socolov told BR.

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The company is not looking on the short term to open any warehouses in Romania, nor to make any local acquisitions, according to David Summerfield, Metinvest’s regional development director.

The main shareholders of Metinvest are System Capital Management Group with a 71.25 percent stake and Smart Group with 23.75 percent.

Ovidiu Posirca