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Investments over 100m euros in a special alloy steel mill

In the coming 3-4 years, Pro Auto Industries group intends to invest some 100 million euros, in partnership with two foreign companies, to equip and increase to an annual 30,000 tons the production capacity of a steel mill it owns in the southern Romanian town of Giurgiu, the company's President, Laurentiu Tigau told Business Standard.

The steel mill, only one of its kind in Central and Eastern Europe, produces special alloy for the aeronautical and aerospace, aeolian, automotive, machine and tools, and oil and gas industries. 'We are presently carrying out hot and cold technological tests and will start the machinery no later than February next year. The initial annual production capacity will be 15,600 tons of processed parts, and plan to double this in the coming years, in parallel with investments in tools for processing products with higher added value,' added Tigau. He indicated that although the production capacity will be significantly higher, the company will not produce more than 6,000 tons of processed special alloy parts in the first year of activity. The Pro Auto representative indicated that there is great demand on foreign markets for special alloy parts, due to technological development in Asia and Western Europe, not being met by existing production capacities in Western European countries. The company is controlled by Laurentiu Tigau, with an 82.85 -percent stake, Valentina Tigau, with 8.89 percent, and a further five minority shareholders with 2 percent each. Sursa: http://www.rompress.ro

Tags: steel alloy special

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