Alkagesta and Navex Launch Alkanavex Joint Venture in Steel Trading

Alkagesta has launched Alkanavex, a Malta-based joint venture with French steel trader Navex SAS, marking its formal entry into metals trading and extending its role in the supply chain for industrial materials.

The venture will focus initially on steel, a sector central to construction and manufacturing demand worldwide. Alkagesta holds a majority stake; the agreement is finalised, with legal formalisation and operational integration under way. The two companies spent the previous two years aligning operations, governance and commercial models before committing.

What each side brings

Navex was founded by industry veterans with more than 25 years of individual experience and brings a compliance culture, established operating procedures and a proven trading network, particularly in Africa. Its chief executive, Jean-Pierre Artigala, has over five decades in the steel industry and has held senior roles at major producers and traders.

"This partnership is built on mutual respect and strategic alignment," said Pierre Gay, a member of Alkagesta's board. "Alkanavex is more than a combination of two teams — it represents a shared vision for building a high-performing, well-governed and globally competitive steel trading platform."

Artigala said the arrangement gives Navex access to Alkagesta's financial strength, governance framework and global footprint while preserving its operational heritage, adding that the company was keen to deepen its presence in Africa and explore sourcing synergies and new product corridors.

A natural adjacency

Orkhan Rustamov, Alkagesta's chief executive, described metals as a long-considered step. "We've long believed that steel and metals trading is a natural next step for Alkagesta. With the right partners, the right governance and a prudent commercial model, we see this as a powerful growth engine. Navex stood out for its professionalism, integrity and long-term track record."

The logic is familiar across the trading sector: as electrification and infrastructure investment reshape industrial demand, energy houses with credit lines, logistics capability and risk systems can redeploy those assets into metals at relatively low marginal cost. The discipline lies in resisting the temptation to treat an unfamiliar market as a simple extension of a familiar one.

Sources

• MaltaToday — Alkagesta expands into metals trading through strategic partnership with Navex — 12 November 2025
• The Malta Independent — Alkagesta and Navex launch Alkanavex joint venture to enter metals trading — 12 November 2025
• Alkagesta — Company website