SIDENOR SA informs of the increase of its participation to 100% in the Bulgarian subsidiary STOMANA INDUSTRY S.A., in which participated until now by 86%.
STOMANA INDUSTRY S.A., a subsidiary of SIDENOR Group since 2001, has a leading position in the Bulgarian steel industry with over 50 years of experience in the Balkan, as well as the European markets. The incorporation of STOMANA to the Group, was followed by a large investment plan aiming at the modernization of the production facilities, as well as the organizational restructuring of the Company, aiming at satisfying the needs in steel products for the Balkan, as well as the European markets.
STOMANA INDUSTRY's product mix includes steel products targeting the construction and building industries (reinforcing steel, wire rods, merchant bars) in the region, plate products for industrial and ship building applications, as well as value added products, such as special steel products (SBQs), targeting Western European markets.
Following the successful start-up of the new long products rolling mill in STOMANA INDUSTRY S.A. in January 2008, the total long products production capacity currently amounts to 1,000,000 tons, whereas the plate products production capacity amounts to 400,000 tons.