The largest metallurgical plant of Georgia - "Rustavi Steel" has a new management. Igor Koritko has managed the company since December last year, he replaced Nugzar Kachukhashvili in this position.
Until July 2023, Koritko held the post of General Director of TMK, one of Russia's largest metallurgical companies. This company is the largest supplier of Gazprom and a member of the world's top three steel pipe production capacities.
Untill March 2022 TMK's main shareholder was US-sanctioned Russian billionaire Dmitry Pumpiansky, whose fortune is estimated by Forbes at USD 3.3 billion. TMK itself is under US sanctions, Pumpiansky was also sanctioned by the European Union, however, on June 26, the European Court annulled the said sanctions.
According to the extract from the business register, the owner of "Rustavi Steel" remains unchanged, which belongs to the company Tolanius Beheer BV registered in the Netherlands, which in turn is a part of businessman Irakli Rukhadze's Hunnewell Partners; However, due to the fact that the statement of Tolanius Beheer BV is not publicly available, it is not known whether the owner of the said company has changed or not.
"Rustavi Steel" published its financial report for 2022. According to the document, the company's revenue in 2022 was GEL 322 million, and its net profit stood at GEL 20.6 million.
