Turkish conglomerate buys Spanish pipe manufacturer
Turkish conglomerate Tosyali Holding announced that it has acquired the Spanish company Baika Steel Tubular System (STS). The company produces spiral welded steel (SAW) pipes with a variety of coatings and structural pipes used primarily in the oil and gas, marine and civil engineering industries.
“We have added a new milestone to our global growth,” says message Tosyali Holding. “With this acquisition, the company has increased its global pipe production capacity to more than 3 million tonnes per annum, strengthening our position as the largest steel pipe manufacturer in Europe.”
Although STS did not disclose any details of the agreement, it confirmed that Tosyali is modernizing its two plants in Alegria Dulanzi, in the Basque Country. This will increase their annual production capacity from the current 150,000 tons per year to almost 240,000 tons per year.