Malta-based Alkagesta has established Alkanavex, a joint venture with French steel trading company Navex SAS, marking its entry into metals trading. Malta Today reported that this move strengthens Alkagesta's position in the global industrial materials supply chain, with an initial focus on steel.
The formation of Alkanavex aligns with Alkagesta's long-term strategy to expand beyond its traditional activities in petroleum products and fertiliser trading. The company aims to build an integrated metals trading platform, supported by its risk management and compliance practices.
Alkagesta holds a majority stake in Alkanavex, and the agreement for its establishment is now finalised, with legal formalisation and operational integration underway. The two companies have collaborated for two years to align their operations, governance, and commercial models.
Navex brings over 25 years of individual experience from its founders, along with operational procedures and a trading network. Jean-Pierre Artigala, Navex's Chief Executive Officer, has over five decades of experience in the steel industry, having held senior roles in major European and international steel groups.
Mr Artigala's career includes steel manufacturing, global sourcing, and export trading across various regions, providing Navex with extensive market knowledge. Navex primarily sources from China, the world's largest steel exporter, and supplies customers in West and East Africa, regions experiencing rapid economic growth.
Pierre Gay, a Member of the Board of Alkagesta, stated that the partnership is based on mutual respect and strategic alignment, representing a shared vision for a high-performing steel trading platform. Jean-Pierre Artigala added that the partnership provides Navex with access to Alkagesta's financial strength and global footprint.
Orkhan Rustamov, Alkagesta's CEO, noted that steel and metals trading is a natural progression for the company. He highlighted Navex's professionalism, integrity, and long-term track record as key factors in the partnership, viewing it as a powerful growth engine.
