Samsung eyes tube market acquisitions

Korean company Samsung is interested in buying Romanian companies that make and laminate tubes from non-ferrous metals, Economy Ministry representatives say. The company intends to make a series of investments in Romania in the near future, the first of which will involve Otelinox. Samsung presented its plans to the state secretary from the Economy Ministry, Eugen Tapu Nazare, in Seoul during the second meeting of the Romanian-South Korean Industrial Cooperation Committee, the same sources say. The Korean company is also interested in infrastructure projects. Samsung is planning a traffic computerisation system for Bucharest and hoping to develop Power Line Communications, now on the testing list at Electrica. This technology allows for broadband data transfer through already existing low- and medium-voltage power lines, rendering frequency allocation, which is required by wireless technologies, unnecessary. Otelinox, which makes cold-rolled stainless steel sheets and strips, as well as finished rolled goods, was privatised in October 1997. Samsung Deutschland bought 51% from the former State Ownership Fund. ZF