KMG International to divest Zalau-based industrial fittings producer Rominserv Valves Iaifo

KMG International, owner of the Zalau-based producer of cast iron and steel industrial fittings Rominserv Iaifo Valves, plans to sell this asset to a partner interested in continuing the production activity; company representatives assured that the divestment decision will not imply layoffs or other restructuring moves.

"KMG International, former Rompetrol Group, has sets itself as a target the divestment, in the next period, of the activities related to the exploration, extraction, refining and marketing of petroleum products by attracting and selecting a reliable and responsible partner that would be interested in continuing and developing industrial cast iron and steel fittings design, manufacturing and marketing operations. In compliance with the long-term strategy of the parent company KazMunayGas — the state-owned oil and gas company of Kazakhstan — KMG International will further focus its efforts on strengthening and developing retail and trading activities both in Romania and in the Black Sea region," KMG International representatives on Wednesday told AGERPRES.

According to them, the measure will not affect the 363 employees of Rominserv Valves. AGERPRES