For this amount, UMB Steel takes over all ArcelorMittal’s assets in Hunedoara, including production equipment and industrial facilities, materials, stocks, and several plots of land. UMB Steel is the most important construction company in Romania and is held by businessman Dorinel Umbrarescu.
The plant shut down production permanently last fall, and at the beginning of this year it had only 100 of the 500 employees at the time of the shutdown left.
The 100 employees are responsible for equipment maintenance, security, and other non-manufacturing operations.
The plant used to make profiles and angles for the energy, construction, and infrastructure markets. In 2006, the best year in the last two decades, Arcelor Mittal in Hunedoara posted RON746.5 million revenue and RON22.5 million net profit, with 1,913 employees, according to mfinante.ro.
(English version by Loredana Fratila-Cristescu)