Intertranscom Impex, a producer of welded mesh from Bacau,
northeast Romania, controlled by local entrepreneur Ioan Teslaru, took over for
EUR 7.5 million in a public auction the assets of wire factory Dan Steel Group
Beclean – a company that expanded rapidly since it was founded in 1991 but
faced liquidity problems since 2017.
Intertranscom Impex reported a EUR 372 million turnover in 2022, when
it achieved EUR 12.6 million net profit. Its turnover has nearly doubled from
under EUR 200 million in 2020. The main activity of the company is the
production of welded mesh.
Dan Steel Group Beclean was involved in the production of ferrous
metals in primary forms and ferroalloys (nails, galvanized wire, braided wire,
welded mesh, panels) sold on both the domestic market as well as in Hungary,
Poland, Serbia, Czech Republic, and Slovakia.
A decrease in business volume in 2017 led to a
reduction in the company’s working capital and a significant increase in its
debt. Later in 2018, measures imposed by the European Commission regarding the
imports of certain categories of products belonging to the steel industry
forced Dan Steel Group Beclean to secure its raw material from the EU
suppliers, under less favourable terms – which created additional pressure on
the financial situation of the company.