ArcelorMittal Hunedoara, which generated revenues of RON 511 million (approximately EUR 4.9 million) last year, employed 477 people according to publicly available financial statements. The company had been going through a challenging period amid rising energy costs and pressure from low-priced imports originating outside the European Union. Listed on the Bucharest Stock Exchange, the company’s market capitalisation stood at approximately RON 70 million (around EUR 1.6 million).
Under the sale and purchase agreement signed between the parties, all tangible assets located within ArcelorMittal Hunedoara’s industrial site—including production equipment, industrial facilities, materials and inventories, as well as all land and buildings—will be transferred to UMB Steel. The transaction also covers all land owned by the company outside the industrial site as of the closing date. The acquiring company will assume all environmental obligations and liabilities related to the transferred assets.
However, the transaction does not constitute the transfer of an economic entity. As production activities have been suspended and employment relationships have been terminated under a Voluntary Departure Programme, none of the company’s employees will be transferred to the buyer.
Completion of the transaction is subject to approval by the shareholders at an Extraordinary General Meeting, the receipt of all required regulatory approvals, and the consent of the State Asset Management Authority. Under the agreement, UMB Steel, owned by businessman Dorinel Umbrărescu, has been granted exclusive rights over the company’s assets for a defined period.
According to the proposed timeline, the definitive transaction documents are expected to be signed by 30 January 2026, shareholder approval is targeted by 10 February 2026, and the transaction is expected to be fully completed by no later than 1 June 2026.
ArcelorMittal had previously announced on 17 October 2025 its decision to permanently cease the production of angle sections and merchant bars at the Hunedoara plant, which had been supplying the energy, construction, and infrastructure markets in Romania.
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