Hefestos Capital, an investment banking company based in Belgrade, Serbia, purchased from TMK Group the shares held in the German company TMK EUROPE GmbH, which is the majority shareholder of TMK ARTROM SA.
As a result of the transaction, the new owners of the ARTROM Group and its companies in Romania, Italy and the USA are Serbian co-founders of Hefestos Capital, Milutin Nikolic and Pavle Kavran.
Also, TMK ARTROM became ARTROM STEEL TUBES, TMK ITALIA changed its name to ARTROM ITALIA, and TMK INDUSTRIAL SOLUTIONS LLC is now called ARTROM USA LLC.
These companies are no longer part of the TMK Group, no longer controlled by it and no longer linked to the former Russian investor.
With the change of the shareholding, the cancellation of the decisions to freeze the funds of the Romanian former TMK companies was also requested, due to the sanctions imposed on the former Russian owner.
Adrian Popescu, who has been leading ARTROM for more than 30 years from the position of CEO, became Chairman of the Board of Directors of the company.
Cristian Drinciu, who served as Deputy Chief Operating Officer for over 25 years, has been appointed as CEO.
ARTROM STEEL TUBES produces at the steel plant in Reșița the steel necessary for the pipe plant in Slatina, from where it delivers products to Europe, the United States of America and Asia.
ARTROM companies in Romania have about 2,350 employees (1,550 in Slatina, 770 in Reșița and about 30 in the representative offices in Europe and the USA) and a business of 2 billion lei.
