The Romanian competition council has lately authorized the takeover of bankrupt COS Targoviste for EUR 38.3 million by Italy-based AFV Beltrame Group. COS Targoviste, which produces mainly rebar and special steels, halted production activities in 2020 and laid off around 1,200 workers due to economic issues caused by the Covid-19 outbreak and a shortage of working capital. Donalam produces round bars of 80-320 mm diameter.AFV Beltrame aims to invest about EUR 100 million in the modernization of the Romanian long products mill. Furthermore, this year AFV Beltrame Group will start the construction of a new plant, an investment of EUR 300 million operational within 4 years, again in Targoviste for the production of rebar and wire rod, with a production capacity of approximately 600,000 tonnes per year. The plant will be in line with the principles of sustainability and will be equipped with innovative technologies, which will ensure low energy consumption. The project also includes a photovoltaic park, which will power the new eco-smart factory.The AFV Beltrame group is one of the largest European producers of steel bars and special steels. Present on the Romanian steel market since 2007, where it owns the Calarasi rolling mill through its subsidiary Donalam, AFV Beltrame Group wants to expand its business in the country by acquiring and restarting the steel production unit owned by COS Targoviste SA and then transforming it into a European production unit of special steel. COS Targoviste activities should be integrated with those of Donalam, another mill owned by Beltrame in Calarasi in Romania
The Romanian competition council has lately authorized the takeover of bankrupt COS Targoviste for EUR 38.3 million by Italy-based AFV Beltrame Group. COS Targoviste, which produces mainly rebar and special steels, halted production activities in 2020 and laid off around 1,200 workers due to economic issues caused by the Covid-19 outbreak and a shortage of working capital. Donalam produces round bars of 80-320 mm diameter.AFV Beltrame aims to invest about EUR 100 million in the modernization of the Romanian long products mill. Furthermore, this year AFV Beltrame Group will start the construction of a new plant, an investment of EUR 300 million operational within 4 years, again in Targoviste for the production of rebar and wire rod, with a production capacity of approximately 600,000 tonnes per year. The plant will be in line with the principles of sustainability and will be equipped with innovative technologies, which will ensure low energy consumption. The project also includes a photovoltaic park, which will power the new eco-smart factory.The AFV Beltrame group is one of the largest European producers of steel bars and special steels. Present on the Romanian steel market since 2007, where it owns the Calarasi rolling mill through its subsidiary Donalam, AFV Beltrame Group wants to expand its business in the country by acquiring and restarting the steel production unit owned by COS Targoviste SA and then transforming it into a European production unit of special steel. COS Targoviste activities should be integrated with those of Donalam, another mill owned by Beltrame in Calarasi in Romania
