New Sidex suitors

The one-month extension of the bid submission deadline for Sidex privatisation, that is April 4, had a quick effect right after being announced by Nastase Cabinet: two more bidders.

Following the letter of intent sent by a consortium comprised of four Romanian trading companies – Metalexportimport, Metanef, Grivco and Metaltrade to APAPS (the former State Ownership Fund) on Monday, a new name will seemingly join the race for the Romanian steel plant: Salzigitter AG.

The German group will team up with the Usinor (France) and Erdemir (Turkey) groups that have joined forces early this year in order to participate in Sidex privatisation by taking over the management contract of the plant for two years, planning to restructure its activity in the meantime.