Alkagesta has formed Alkanavex, a new joint venture based in Malta, in partnership with Navex SAS, a steel trading company headquartered in France, the Malta Independent reported. This new entity signifies Alkagesta's official move into metals trading, initially concentrating on steel due to its strategic importance in global construction and industrial supply chains.
The joint venture aims to combine Alkagesta's global trading network, logistics capabilities, and governance framework with Navex's market expertise and operational history. The Malta Independent stated that the partners have spent the last two years aligning their commercial models, compliance practices, and governance structures.
Alkagesta will hold a majority stake in Alkanavex, and both companies are currently finalising legal formalisation and operational integration. Navex, founded by industry veterans, contributes established sourcing relationships, particularly in China, and client networks across West and East Africa, according to the publication.
Jean-Pierre Artigala, CEO of Navex, brings extensive experience from senior roles within leading steel groups, which is expected to support the joint venture's goal of developing resilient supply corridors and reliable service for industrial clients. Pierre Gay, a Board Member at Alkagesta, reportedly described Alkanavex as a shared vision to build a competitive steel trading platform.
Orkhan Rustamov, CEO of Alkagesta, was quoted by the Malta Independent as saying that metals trading is a natural expansion of their activities and presents a significant growth opportunity, provided it is managed with prudent risk management and strong governance.
