<p>Romanian daily Adevarul reported that the Romanian Competition Council is examining the transactions through which Italy’s Beltrame intends to take over the functional assets belonging to the bankrupt special steels producer COS Târgovişte. In accordance with the provisions of the Competition Law, this operation must be authorized by the Competition Council. The competition authority will assess this economic concentration in order to establish its compatibility with a normal competitive environment and will issue a decision within the time limits provided by law.</p><p>COS Târgovişte is currently in the process of judicial reorganization after the production activities were suspended in 2019. The functional assets that are the object of the transaction include real estate, equipment and stocks necessary for the development of the production activity, respectively the manufacture of steel and long steel products, as well as for the development of the related activities.</p><p>Italian group AFV Acciaierie Beltrame SpA is an Italian company whose main object is of activity the production of ferrous metals in primary forms and of ferroalloys. AFV Acciaierie Beltrame SpA is the parent company of the AFV Beltrame Group. AFV Beltrame Group is active in the production and sale of several types of steel products, having production facilities in Italy, France, Switzerland and Romania. Beltrame already operates in Romania through Donalam, the heavy profile rolling mill of the former steel plant in Calarasi.</p>
<p>Romanian daily Adevarul reported that the Romanian Competition Council is examining the transactions through which Italy’s Beltrame intends to take over the functional assets belonging to the bankrupt special steels producer COS Târgovişte. In accordance with the provisions of the Competition Law, this operation must be authorized by the Competition Council. The competition authority will assess this economic concentration in order to establish its compatibility with a normal competitive environment and will issue a decision within the time limits provided by law.</p><p>COS Târgovişte is currently in the process of judicial reorganization after the production activities were suspended in 2019. The functional assets that are the object of the transaction include real estate, equipment and stocks necessary for the development of the production activity, respectively the manufacture of steel and long steel products, as well as for the development of the related activities.</p><p>Italian group AFV Acciaierie Beltrame SpA is an Italian company whose main object is of activity the production of ferrous metals in primary forms and of ferroalloys. AFV Acciaierie Beltrame SpA is the parent company of the AFV Beltrame Group. AFV Beltrame Group is active in the production and sale of several types of steel products, having production facilities in Italy, France, Switzerland and Romania. Beltrame already operates in Romania through Donalam, the heavy profile rolling mill of the former steel plant in Calarasi.</p>
