TPT March 2023

INDUSTRY

Hefestos acquires TMK Artrom and renames it Artrom Steel Tubes

ARTROM Steel Tubes, one of the leading pipe companies in Europe, with operations in Romania in Reșița and Slatina, has announced the change of the ownership of the company, the renaming of the companies, and the appointment of a new board of directors. Hefestos Capital, the largest investment banking company in Southeast Europe, based in Belgrade, has purchased from TMK Group (PAO TMK) the shares held in the German company TMK Europe GmbH, which is the majority shareholder of TMK Arstrom SA.

Adrian Popescu

Pavle Kavran

Milutin Nikolic

cancellation of the decisions to freeze the funds of the Romanian companies (former TMK) was also requested, due to the sanctions imposed on the former beneficial owner. “This moment paves the way out of a period of extreme difficulties caused by the listing of the former beneficial owner of Artrom as a sanctioned person. Moreover, the change of the beneficial owner generates a lot of confidence and stability among the 2,350 professionals working in the Artrom Group companies in Europe and the US,” said Adrian Popescu, chairman of the board of directors of Artrom Steel Tubes.

develop and grow Artrom’s franchise and footprint,” said Milutin Nikolic, Hefestos Capital co-founder. As a result of the transaction, the new beneficial owners of the Artrom Group and its companies in Romania, Italy and the US are Serbian co-founders of Hefestos Capital, Milutin Nikolic and Pavle Kavran. These companies are no longer part of the TMK Group, no longer controlled by it, and no longer linked to the former Russian investor. Moreover, the transaction has already been certified by the competent authority in Germany, the new beneficial owners have been registered with the Romanian Trade Register and all relevant Romanian authorities have already been informed. With the change of the shareholding, the

“We are pleased to announce that we have acquired 100 per cent of Artrom Steel Tubes, the leading Romanian industrial group and one of the leading manufacturers of specialty steel pipes in Europe and the world. For 21 years we, at Hefestos Capital, have made our mission to assist and develop leading companies and brands in South Eastern Europe to renew old leaders and create new champions. “Our acquisition of Artrom will allow us to do exactly this and give a new life and flourish to this venerable company. We look forward to working together with Artrom’s management both old and new and skilled employee team, as well as the Romanian Government, our suppliers and customers across the world, to further

Artrom Steel Tubes www.artrom.com

MIDA Hybrid minimill ordered by Tata Steel THE investment in a Danieli MIDA Hybrid QLP minimill for the production of long products is part of the Tata Steel commitment to invest in a circular economy and to transition to low-carbon steelmaking through steel recycling. feeding an ultra-compact rolling mill. Q-One power feeder handles irregular power loads with flexibility and reliability by using semiconductor devices. This results in lower energy, electrode and refractory consumption, along with zero-impact on the power network. Hybrid by design, it allows the direct use of renewable sources generated at the site. advanced process control offers dynamic and automatic optimisation of the melting profile. Endless casting rolling is powered by a single-strand Octocaster featuring ECO-PowerMould and FastCast Cube oscillator, to operate at an hourly productivity of 112 tons. The 18-stand ultra-compact rolling mill featuring two 6-pass, fast-finishing blocks will roll rebar ranging from 8 to 40mm diameter. The new MIDA will be installed in the North of India, in Ludhiana, Punjab, and will have an annual capacity of 750,000 tons of quality rebar, mainly in 550SD grade and it will start operation by the end of 2024. The minimill will feature the Danieli patented Digimelter and Octocaster The 75 ton Zerobucket Digimelter will receive preheated scrap thorough the ECS continuous scrap-charging and preheating system. Danieli Q-Melt Danieli SpA www.danieli.com

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MARCH 2023