Moldovan investors take over 50% of Romanian steel mill
A group of investors from the Republic of Moldova took over half of the capital of Laminorul Danube Metallurgical Enterprise (LDME), which owns and operates the steel pipe production unit in Oțelu Roşu, Caraş Severin county, Profit.ro reported.
The seller is the Polish company Sunningwell International Polska, founded, controlled and managed by Polish businessman Marek Frydrych (99.09%), and the metallurgical products trader West Trade from Poland (0.91%).
Sunningwell International Polska has sold 49.09% of the shares of LDME to Omnisteel from the Republic of Moldova and 0.91% to Metary from Romania - being left with 50% of the shares.
Omnisteel is controlled by Moldovan businessmen Valentin Eșanu (35%), involved in scrap iron trading, Andrei Zabolotnîi (35%), owner of the IT company Omnicom, and Alexandru Rotaru (30%). Rotaru, who is also a sole partner at Metary, was appointed administrator at LDME, but an agreement with Sunningwell’s representative is needed for all decisions.
The Romanian pipe maker was bought by the Polish investor three years ago from Ductil Steel, which was part of the local portfolio of the Russian group Mechel.