According to NV Business and an official announcement by the European Commission on October 29, 2025, Metinvest intends to acquire full ownership of the Romanian company ArcelorMittal Tubular Products Iasi S.A. (AMTP Iasi), which specializes in the production of small-diameter welded pipes. The plant’s production capacity is approximately 240,000 tons per year.
Metinvest B.V. (Netherlands), controlled by Rinat Akhmetov and Smart Steel Limited (Cyprus), submitted a merger clearance request to the European Commission on October 21, 2025. A decision on the deal is expected soon.
The acquisition of AMTP Iasi would enable Metinvest to close the production cycle up to finished goods, as the Ukrainian group is already a key supplier of hot-rolled steel in the region. The Romanian market imports over 400,000 tons of welded pipes annually, making the acquisition economically attractive.
This deal could mark the first step in Metinvest’s large-scale expansion in Romania. In early October, the company confirmed its interest in acquiring Liberty Galați — the country’s only producer of flat steel products, with an annual capacity of up to 2 million tons of steel. The plant also holds a 99.99% stake in the pipe manufacturer Liberty Tubular Products Galați SA and operates the Romportmet port complex on the Danube River.
While the AMTP Iasi transaction may proceed without significant competition, the battle for Liberty Galați is intensifying. Several international companies — UMB Steel, Steel Mont (Germany), and Kayseri Metal Center (Turkey) — have expressed interest in acquiring the asset.
According to Metinvest, the Galați facilities could play a strategic role by allowing the company to integrate raw materials from Kryvyi Rih into steel production and increase iron ore exports to the European Union.
A final decision on the purchase of Liberty Galați has not yet been made, as the Romanian plant is currently undergoing restructuring procedures before bankruptcy.
In 2024, Romania’s steel consumption totaled around 4.2 million tons, making it an important market for Metinvest. The Ukrainian group already owns several assets in the EU — including the Promet Steel rolling mill in Bulgaria, Trametal and Ferriera Valsider in Italy, and Spartan UK in the United Kingdom. Additionally, in early 2025, Metinvest announced plans to build a new steel plant in Italy in partnership with the Italian engineering firm Danieli.
Despite its expansion strategy, Metinvest’s financial performance has declined: in the first half of 2025, the group’s revenue fell by 13%, and profits turned into losses. Key factors included the shutdown of coal operations in Pokrovsk and rising operational costs.
Thus, the acquisition of AMTP Iasi and Liberty Galați could become not only a step toward strengthening Metinvest’s position in the European market but also an important element of the group’s strategic transformation aimed at expanding its production base beyond Ukraine.
