The Romanian seamless steel pipe producer, Artrom Steel Tubes S.A, has reached an agreement to be taken over by GLGH Steel, a company of the American investment fund Great Lakes Global Holdings, according to a press release of the Romanian company."As we are interested in exploring new opportunities for Artrom, we hope that the new government can take the necessary steps as soon as possible to allow Artrom to carry out its activity normally. If these conditions are met, we are confident that Artrom can launch on a new business trajectory, focusing on strategic areas such as production for the defence industry and decarbonization, which require substantial investments from our group," said Adam Hitchcock, founder and managing partner of GLGH, in the press release.The share purchase agreement for the acquisition of Artrom was concluded in November between GLGH Steel and the former Serbian owners of Artrom, and the transaction is subject to the necessary regulatory approvals from the Romanian authorities.GLGH Steel is currently working to secure the support of the Romanian Government for this transaction, which would put Artrom's future development on the right track.'This transaction ensures that thousands of jobs in the southern region of Romania, in particular those in Olt and Caras-Severin counties, will be protected. The local economy will consequently be stimulated by a capital infusion of millions of dollars in the coming years. Furthermore, the company will benefit from a sustainable and constant investment flow, allowing it to develop and expand other production lines to access new markets,' the press release says.Currently, Artrom Steel Tubes S.A. has over 2,000 employees and is the market leader in the production of seamless steel pipes.
The Day of Timișoara, a celebration of the city in western Romania, will see performances from Mika and James Bay, among other artists. From alternative pop and British rock to jazz, electronic music and community experiences, The Day of Timișoara brings together in 2025 the top events of the Timișoara music scene, including Timișoara Jazz […]
The Bucharest public can attend this month a performance of Noh theater, the centuries-old Japanese mask drama, delivered by Yamamoto Noh Theater. Two works will be presented. Jiai – A Soul's Journey is a recent creation, a rare occurrence in Noh theater, where original creation requires a deep knowledge of classical Japanese language and theatrical […]
Horia Colibășanu, one of Romania's most famous high-altitude climbers, is set to embark on a new high-altitude expedition this summer, aiming to summit Nanga Parbat - one of the world's most dangerous peaks. Standing at 8,126 meters, it is the ninth-highest mountain on Earth and the second-highest in Pakistan. The expedition marks a major milestone […]
The ancient forests of Băiuț in northern Romania are poised to host Eastern Europe’s first certified forest therapy trail, a pioneering project blending science, health, and conservation, WWF Romania said. Announced during the “The Forest Heals” symposium on June 4, the initiative aims to transform the centuries-old woods of Strâmbu-Băiuț, part of Romania’s UNESCO Natural […]
Romanian citizens can now access official information about the new electronic identity card (CEI) through a dedicated government website, launched on Wednesday, June 4. The platform provides detailed guidance on how to obtain the new card, explains its features and security elements, and outlines the differences between electronic and traditional identity cards. The site is […]
Romanian president Nicușor Dan held his first press conference at the Cotroceni Palace on Wednesday, June 4, outlining key priorities for his mandate, including upcoming fiscal measures, government formation talks, and the foreign policy agenda for June. He announced that the first draft of the future governing program is expected by Monday, June 9, with […]
