9,866.73 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
35.48 USD USD USD
36.53 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
39.25 TRY Interest Interest
81.60 USD Fossil Oil Fossil Oil
30.67 USD Silver Silver
4.46 USD Copper Copper
104.31 USD Iron Ore Iron Ore
350.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,100.05 TRY Gold (gr) Gold (gr)

Borusan Mannesmann buys Europipe's American assets

German pipe manufacturer Europipe sold its subsidiary Berg Pipe (USA) to Turkish Borusan Mannesmann.

Borusan Mannesmann buys Europipe's American assets

Borusan Mannesmann operates steadily in the USA, with a manufacturing facility in Baytown (Texas). With the acquisition of Berg Pipe and the construction of a second facility in Baytown (production will begin in 2023), the company will have four plants in the United States. The company's total production capacity in America will amount to 1 million tons.

Following the acquisition of Berg Pipe, Borusan Mannesmann will have a total of 11 plants in Turkey, Italy, Romania and the USA. The Turkish company is one of the leading steel pipe manufacturers in Europe.

According to Borusan Mannesmann, the value of the transaction was $162 million. This acquisition strengthens the company's position as a key player in the North American energy pipe market.

Burkhard Becker, CFO of Salzgitter AG, said: "We are pleased that Borusan Mannesmann is counting on Berg Pipe to expand its position in the US market."

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Egyptian steel market shows varied price changes in January 2025

Monday, January 20, 2025

Iran's Steel sector struggles with production cuts and market volatility

Monday, January 20, 2025

Vale and Saudi Arabia move to giant mega hub for green steel

Monday, January 20, 2025

Rebar prices surge as Saudi Arabia's mega projects drive market demand

Monday, January 20, 2025

The world's largest mining companies announced

Monday, January 20, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now