The proposal is subject to shareholder approval at a meting due May 31, ArcelorMittal Hunedoara said in a statement sent to the Bucharest Stock Exchange Thursday.
Mecanica Sider’s main business activity consists in manufacturing machines for the metallurgical industry and it will be absorbed by ArcelorMittal Hunedoara.
Luxembourg-headquartered ArcelorMittal owns four steel plants in Romania, in Galati, Iasi, Hunedoara and Roman, as well as harbor operator Romportmet Galati and the local unit of construction company ArcelorMittal Construction.