BCR inks EUR 25 mln financing deal with TMK-ARTROM Slatina

Newsroom 31/01/2017 | 14:00

BCR has inked a EUR 25 million financing deal with TMK-ARTROM Slatina, the steel pipes maker. The loan, which has a 7-year maturty, will be used for the acquisition of a thermal treatment line, scheduled to start the operation in the third quarter of this year, increasing the output of the Slatina plant.

„As a result of the investment, the annual capacity of the thermal treatment line will be of 160,000 tones. Once this new line will be installed, TMK-ARTROM will consolidate its market presence, with superior tubes for mechanical applications and for the exploitation of oil and gas,” said Adrian Popescu, general director of TMK-ARTROM.

The company from Slatina is listed on the main segment of Bucharest Stock Exchange (BVB), with a capitalization of RON 342.70 million (EUR 76.16 million).

TMK-ARTROM is part of the TMK Group, one of the steal barrel producers. More than 80 percent of the its production is exported in Europe, America and Middle East.

Georgiana Bendre