Indian firm interested in AMIDIP Calan

Jindal Saw (India), a producer of cast iron and ductile iron tubes, submitted a letter of intent with a view to acquiring AMIDIP Calan, according to the leader of the trade union at Victoria Calan, Cristian Anghel. “We reached the conclusion that we have to agree to sell AMIDIP Calan assets in order to get the necessary money to pay the wages of our 204 employees, who are currently guarding and helping preserve the assets of our company. We will sell a certain amount of scrap iron and a two-hectare piece of land”, said Anghel. AMIDIP Calan broke away from the steel plant Sidermet Calan in January 2003 to manufacture ductile iron tubes. The Romanian state owns 34% of the shares of AMIDIP, with the majority stake being owned by Pipe Productions Germany. ZF