Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
AFV Beltrame Group, one of the largest producers of steel bars and special steels in Europe, has completed the acquisition of Combinatul de Oțeluri Speciale (COS) Târgoviște (Dambovita County).
Combinatul de Oţeluri Speciale (COS) Târgovişte was a leading steel producerin Romania, which in 2020 announced a restructuring involving 1,200 job losses.
The investments by AFV Beltrame Group will create 200 new jobs by the end of June 2022. Medium- and long-term plans involve the creation of more than 1,000 jobs.
AFV Beltrame Group owns the Donalam rolling mill in Calarasi (Calarasi County) and aims to invest approx. €100 million in the modernization of the machinery (the steelworks and rolling mills) and about approx. €40-50 million in working capital.
Currently the workforce of AFV Beltrame Group in Romania is 340.
Founded in 1896, AFV Beltrame Group has 6 plants in Italy, France, Switzerland and Romania, more than 2,200 employees, over 2 million tons of steel sold annually and commercial activities in over 40 countries.
Eurofound (2022), AFV Beltrame Group, Business expansion in Romania, factsheet number 106531, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106531.