Businessman Irakli Rukhadze’s Honeywell Partners-owned Rustavi Metallurgical Plant (Rustavi Steel) has transferred its rebar production line to metals company PM Metal.
According to company records and information published on the website of the Georgian Competition and Consumer Agency, Rustavi Steel established a company called Iberia Rebar in December 2025 and transferred its rebar production line to the company. On July 30, 2026, ownership of Iberia Rebar passed to PM Metal, which is owned by businessman Giorgi Mirianishvili.
Rustavi Steel’s plans to sell its rebar segment had previously been disclosed by the company’s former General Director, Igor Koritko, in an interview with BMG in January 2026.
Koritko said competition in Georgia’s rebar market was highly challenging, while high import volumes were also intensifying competition. For this reason, he said the company had shifted its focus toward seamless pipe sales.
PM Metal operates in the rebar and wire rod markets
PM Metal, established in 2019, is a Georgia-based metals company. Its main activities include the supply, import and sale of rebar and wire rod in the Georgian market. Its product portfolio includes B500B-grade rebar in diameters ranging from 8 mm to 32 mm, as well as 5.5 mm, 6.5 mm and 8 mm wire rod. The company states that it continuously keeps more than 20,000 mt of products in stock.
PM Metal generated revenue of GEL 253 million and a profit of GEL 10.8 million in 2024. Following the acquisition of Rustavi Steel’s rebar production line, the company is expected to expand its operations to include production activities.
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