Rukhadze's Company Sells Rebar Business to PM Metal Amid Intense Competition

Rustavi Steel, a metallurgical plant in Rustavi, Georgia, has sold its rebar production line to PM Metal. The company, owned by businessman Irakli Rukhadze's Honeywell Partners, transferred the production line to a newly created subsidiary called Iberia Rebar in December 2025.

In July 2026, PM Metal acquired Iberia Rebar. According to Rustavi Steel's financial report, the rebar segment generated GEL 200 million of the company's total revenue of GEL 285 million in 2024.

Rustavi Steel's general director, Igor Koritko, had previously stated that the company planned to sell its rebar business due to strong competition and significant import volumes. The company will now focus on selling seamless pipes.