Romanian builder UMB acquires steelmaker ArcelorMittal Hunedoara

UMB Steel, part of the group known for constructing highways and roads UMB, acquired ArcelorMittal Hunedoara for a total price of EUR 12.5 million.

With turnover of RON 511 million last year and 477 employees, according to public financial statements, ArcelorMittal Hunedoara was affected by rising energy costs and pressure from cheap imports from outside the European Union. The company is listed on the Bucharest Stock Exchange and has a market capitalization of approximately RON 70 million.