Leading pipe company TMK Artrom announced a change in the ownership of the company, appointment of a new Board of Directors as well as renaming of the company to Artrom Steel Tubes, following acquisition by investment banking company Hefestos Capital. The Artrom Group along with its companies is now owned by the Serbian co-founders of Hefestos Capital, Milutin Nikolic and Pavle Kavran.

TMK Artrom, one of the leading pipe companies in Europe with operations in Romania in Reșița and Slatina, has recently been acquired by Hefestos Capital, a Serbian investment banking company, and renamed Artrom Steel Tubes. Hefestos Capital has purchased shares from TMK Group (PAO TMK) held in the German company TMK Europe GmbH, which is the majority shareholder of TMK Artrom SA. The acquisition involved renaming of the companies as well as appointment of a new Board of Directors.

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The new beneficial 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. These companies are no longer part of the TMK Group. The transaction has also been certified by the competent authority in Germany, the new beneficial owners have been registered with the Romanian Trade Register and all relevant Romanian authorities have already been informed.