TPi April 2012

news business & market

Liège, Belgium

Fushi Copperweld establishes European hub Fushi Copperweld Inc, a manufacturer of tubing, has received approval from the Commercial Court of Liège in Belgium for its previously announced agreement with the receivers of Leaf Business Holdings Belgium regarding the lease with an option to purchase a 45,000m 2 copper tubing manufacturing and distribution centre that establishes an operational hub for the company in continental Europe. Fushi Copperweld will have an option to acquire all of the assets for €5.75mn during the lease period.

Fushi Copperweld is to boost the facility’s tubing operations, slowly ramping up the production to an annual run rate of approximately 5,000 to 6,000 metric tons per year. The company will also consider outfitting the facility with copper-clad production lines and ancillary finishing equipment. Philippe Suinen, head of the Wallonia Investment & Export Agency (AWEX), said: “We look forward to partnering with Fushi Copperweld and wish them many years of success in Belgium.”

New appointments Giancarlo Spotti, for many years the general manager of Marcegaglia’s stainless steel division, has been appointed CEO of Marcegaglia Buildtech, a group of companies operating in the building and construction sector with a wide range of products including construction equipment, road safety barriers, insulated panels, automated storage systems and photovoltaic systems. The stainless steel division will be now managed by Egidio Bini, who will operate with his staff in domestic and international markets for stainless steel welded tubes, cold drawn bars and flat products.

Marcegaglia – Italy info@marcegaglia.com www.marcegaglia.com

Fushi copperweld Inc – USA www.fushicopperweld.com

8

Tube ProducTs InTernATIonAl April 2012

www.read-tpi.com