Surprise alliance in the steel industry

Corus British giant, with 12bn-euro turnover in the steel industry, and businessman Sandu Ion of Arad, former financer of UTA Arad football team, are set to invest 12m euros in Sfantu Gheorghe in a plant manufacturing steelwork and sandwich panels for industrial facilities. The plant, located on a 3-hectare area, will be finalised in late 2010 and will hire between 75 and 100 persons, with production being exclusively destined to the Romanian market. Sandu Ion owns 50% in Corus Building Systems company operating the investment, with the rest of stock being controlled by British Corus, Europe’s second largest steel producer, owned by India’s Tata. The entrepreneur of Arad also controls P.A.B. Romania constructions firm, with 720 employees and 55m-euro turnover in 2007, according to the latest data available.