Georgia-based steelmaker Rustavi Steel has sold its rebar production business to local metallurgical company PM Metal, as the steel producer shifts its focus toward its seamless pipe business, according to local media reports.
Rustavi Steel established a separate company named Iberia Rebar in December 2025 and transferred its rebar production line to the newly created entity. On July 30, 2026, PM Metal acquired Iberia Rebar, completing the transfer of the rebar operation.
Rustavi Steel to focus on seamless pipes
The divestment had been under consideration since at least the beginning of this year. In January, Rustavi Steel's then-general director Igor Koritko said the company was planning to sell its rebar business due to strong competition in Georgia's domestic rebar market and significant import volumes. Koritko stated that Rustavi Steel would instead place greater emphasis on sales of seamless steel pipes.
The rebar business represented a significant portion of Rustavi Steel's sales. In 2024, the company generated GEL 285 million in total revenue, of which GEL 200 million came from the rebar segment. Seamless pipe sales generated another GEL 74 million, while other activities contributed approximately GEL 10 million.
