Arcelor Mittal owns a further iron and steel company in Romania, ArcelorMittal Hunedoara, and two pipe producers in Iasi and Roman counties. According to half-year results published by the electronic market of the stock exchange, Rasdaq, the most unprofitable company in the group is the ArcelorMittal pipe producer in Iasi, which reported losses up to €0.76 mln. The factory in Roman has the highest sales, following SIDEX Galati, with €138 mln worth of business, but also the lowest profits - €0.27 mln.
Romania has a production capacity of 9.1 mln tons of steel and 9.2 mln tons of rolled steel, according to data published by the Economy and Finance Ministry. At the end of H1, actual production was of 6.180 mln tons of steel and 5.163 mln tons of rolled steel. On the domestic market, the two iron and steel works owned by Arcelor Mittal compete with Mechel Targoviste, Mechel Campia Turzii, Tenaris Calarasi and TMK Resita.
Arcelor Mittal Galati covers 80 percent of the national steel production and exports 65 percent. SIDEX is the group’s main asset in Romania, purchased six years ago following a transaction worth $500 mln (some €355 mln). The Romanian state received 10 percent of the amount. The profits reported at the middle of this year represents some 65 percent of the all-year profits in 2006, when Arcelor Mittal Galati announced profits of €47.5 mln and turnover of €1.72 bln.
Arcelor Mittal Steel, the largest metallurgy group worldwide, was established in 2006, by the takeover of the largest European group Arcellor by Indian group Mittal Steel.
