Alkagesta has established Alkanavex, a new joint venture based in Malta, in partnership with Navex SAS, a steel trader from France, as reported by The Malta Independent. This new entity signifies Alkagesta's formal entry into the metals trading sector, initially concentrating on steel due to its strategic importance in global construction and industrial supply chains.
The Malta Independent stated that Alkanavex integrates Alkagesta's extensive global trading presence, logistical capabilities, and governance framework with Navex's considerable market knowledge and operational history. The partners have spent the last two years aligning their commercial models, compliance procedures, and governance structures.
Alkagesta will hold a majority stake in the joint venture, and both companies are currently proceeding with the necessary legal formalisation and operational integration, according to The Malta Independent. Navex, founded by industry veterans, contributes long-standing sourcing relationships, primarily in China, and established client networks across West and East Africa.
Jean-Pierre Artigala, CEO of Navex, brings significant experience from senior positions in prominent steel groups. The Malta Independent noted that his expertise supports Alkanavex's objective to develop robust supply corridors and provide reliable service to industrial customers.
Pierre Gay, a Member of the Board of Alkagesta, conveyed that Alkanavex represents a shared ambition to create a high-performing, well-governed, and globally competitive steel trading platform. Orkhan Rustamov, CEO of Alkagesta, added that metals trading is a natural expansion of their activities and a significant growth opportunity, given prudent risk management and strong governance.
The initial operational focus on steel highlights its critical role in global construction and industrial supply chains. This strategic move allows Alkanavex to leverage the combined strengths of both parent companies to establish a strong foothold in the metals market, as detailed by The Malta Independent.
