Arcelor expands in Romania

Kontirom, the only company in the Arcelor group with production facilities in Romania, is to invest more than 2 million euros this year in a new factory for steel profiles used by industrial facilities. The new facility will be located close to Bucharest. Arcelor is the world”s second leading steel maker. “At the moment we are importing profiles, but we expect to sell at least 50% more after the new production facility becomes operational at the end of this year. I believe we will sell 2,000 – 2,200 tonnes of steel profiles, compared with the 1,250 – 1,500 tonnes estimated for this year. We hope to reach a turnover of 20 million euros in 2 or 3 years” time, with sales reaching 3,000 tonnes per year,” Kontirom deputy chief executive Marian Pirvu (photo) told Ziarul Financiar. Kontirom began production in Romania in January 2002, following an initial investment of 3 million euros in a thermo-insulating panels factory in Pantelimon commune. ZF