Tag: Artrom

GLGH Steel, LLC, a subsidiary of Chicago-based Great Lakes Global Holdings (GLGH), has announced the acquisition of Artrom Steel Tubes S.A., a leading Romanian producer of seamless steel tubes headquartered in Slatina and Resita.

The purchase agreement, finalized in November with Artrom’s previous Serbian owners, is subject to regulatory approval from Romanian authorities.

Adam Hitchcock, Founder and Managing Partner of GLGH, emphasized the company’s enthusiasm for the acquisition: “Artrom Steel Tubes S.A. is a strong, modern industrial company with a promising future and global potential. We are committed to supporting its growth, exploring new markets across Europe, North America, and beyond.”

GLGH plans to focus on strategic areas such as defense production and decarbonization, reflecting its commitment to innovation and sustainable development. These initiatives will involve substantial investments to drive long-term competitiveness and market leadership.

This acquisition safeguards over 2.000 jobs in southern Romania’s Olt and Caras-Severin counties and promises significant economic contributions through millions of dollars in investments. The company’s development plans include expanding production lines, entering new markets, and maintaining its leadership in the steel tube industry.

Artrom will continue to play a critical role in supplying key sectors such as energy, mechanical engineering, and oil and gas industries, benefiting from GLGH Steel’s global vision and resources.

Adrian Popescu, Chairman of the Board of Artrom, expressed gratitude to the previous owners for their leadership and optimism about the company’s future: “Under new ownership, Artrom is poised to implement its development plans without delay, ensuring stability and growth for employees, clients, and stakeholders.”