Corinth buys Liberty Pipes Hartlepool
Corinth Pipeworks, owned by Cenergy Holdings, has bought Liberty Pipes Hartlepool, according to Callanish from company representatives.
In February, Liberty launched an accelerated sales process for pipe manufacturing, selling the business to Corinth for 10 million pounds ($13.4 million).
The Asset Sale Agreement (ASA) was signed on March 4 between Corinth Pipeworks UK, a wholly owned subsidiary of Corinth Pipeworks (CPW), and Begbies Traynor joint administrators appointed by the Business and Property Courts of England and Wales in London.
Corinth says this strategic acquisition marks an important milestone in pipework's long-term business development plan by increasing production capacity and strengthening its position as a key supplier in the global energy sector.
The plant produces pipes for submerged welded pipelines (SAW) and has a capacity of 250,000 tons per year, providing pipe production for the carbon capture, hydrogen infrastructure, LNG and oil and gas projects in the UK, EU, North and South America, the Middle East and Asia.
Alexis Alexiou, CEO of Cenergy Holdings, says: "With the new LSAW pipe manufacturing capabilities, which are valued for their mechanical strength, high quality and suitability for high-pressure applications, we are expanding our potential. By combining our global expertise with a first-class factory and a skilled workforce, we can provide customized solutions to customers around the world."
Corinth also says that the facility is an important asset for the UK and is in line with the government's priorities for infrastructure renewal and decarbonization through the use of hydrogen, as well as carbon capture and storage. Trends in reorganizing and increasing the resilience of national supply chains further enhance the company's growth potential.
Ilias Bekiros, CEO of Corinth Pipeworks, adds: "The strategic acquisition of the LSAW plant in Hartlepool will allow CPW to double LSAW's production capacity, enabling the company to carry out major projects worldwide. This step further strengthens CPW's position as a leading manufacturer of pipes for complex offshore operations at great depths, as evidenced by its exceptional industry experience."
Author: Carrie Bone, United Kingdom
Kallanish.com