TPI November 2015

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November 2015 Tube ProducTs INTerNaTIoNal 17
business & market news
Tubacex completes acquisition
of Prakash
Tubacex has completed the acquisition
of 68 per cent of the seamless stainless
steel tubes division of the Indian
company Prakash Steelage.
With this operation, the Spanish
company also maintains a purchase
option on the remaining 32 per cent.
The acquisition, which takes place
months after the integration of IBF in
the group, responds to the company’s
strategic plan focused on growth.
Prakash’s integration in the group is
expected to strengthen Tubacex’s
position within the Asian market and
recover its market share in certain
standard products.
As a manufacturer of seamless stainless
steel tubes, Tubacex has industrial
platforms in Europe, America and
Asia.
Tubacex CEO Jesús Esmorís
commented, “Since we announced
the acquisition last February, we
have been working on an integration
plan for Prakash within the group’s
structure, which has allowed us to
expand our experience and market
knowledge.
“We have also worked on an industrial
plan that considers capital expenditure
that will contribute to a significant
increase of the quality of the Tubacex
Prakash products, as well as the growth
of its portfolio.”
Ajay Sambrani, director of Tubacex
Asia and a member of the management
committee of the group, added, “This
acquisition implies the establishment of
a closer relationship with a key market
in terms of growth, with an operational
structure in this continent that allows
us to offer more competitive products,
while providing a more personalised
service.”
52 per cent of Tubacex’s sales are
currently addressed to the Asian market,
where the Spanish company has
progressively increased its commercial
and operational presence, committing
to a growing market.
The company has production plants
in Spain, Austria, China, Italy, the
USA and India, with service centres
in Brazil, France and the USA, as well
as subsidiaries and sales offices in
fourteen countries. The oil and gas,
petrochemical and power generation
industries account for more than 90 per
cent of the group’s sales.
Tubacex – Spain
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TPI-NOV 2015 QTR.indd 1 8/13/15 11:04 PM