The company Mechel Târgovişte entered insolvency after the Dâmboviţa Court admitted the request submitted by the company’s management.
The steel plant has got around 2. 000 employees and it was taken over in 2002 by the Conares Trading Company, which afterwards became a member of the Russian group Mechel.
The Russian group sold for the symbolic amount of sum of 52 Euros the four metallurgical plants it owned in Romania, heavily indebted.
According to the Minister of Economy, Varujan Vosganian, the new owner will restart production in March in the units from Târgovişte and Buzau and they could consider re-selling the plants in Braila and Câmpia Turzii, if they could identify potential buyers.