Rustavi Steel, the Rustavi-based metallurgical plant owned by businessman Irakli Rukhadze’s Honeywell Partners, has sold its rebar production line to metallurgical company PM Metal, BMG reports.
Rustavi Steel established Iberia Rebar in December 2025 and transferred the rebar production line to the newly created company. On July 30, 2026, Iberia Rebar was acquired by PM Metal, a company owned by businessman Giorgi Mirianishvili.
Igor Koritko, the former general director of Rustavi Steel, said in an exclusive interview with BMG in January that the company was planning to sell its rebar business. He cited strong competition in Georgia’s rebar market and significant import volumes as the main reasons, adding that the company would instead focus on the sale of seamless pipes.
According to the company’s financial report, Rustavi Steel generated GEL 285 million in total revenue in 2024, with GEL 200 million coming from its rebar segment.
Earlier, Irakli Rukhadze sold Liberty Bank and Imedi TV.
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