TPT March 2013

Industry News

A new player in the US OCTG market

of 300,000 tons will be established, focusing its output on OCTG and ERW line pipes. The target revenue for the US-based company is estimated at US$500mn. Scheduled to start production by mid- 2014, the plant is designed to produce the thick-walled and high-strength pipes suitable for state-of-the-art, advanced OCTG technology used in shale gas production. The decision on the location of the investment is not yet finalised, but Texas and Oklahoma are the leading states to attract the investment through their incentive programmes.The facility will be built on nearly 125 acres of land and will provide 350 people with employment when it becomes operational. Agâh Uğur, Borusan Holding Group CEO, commented, “Borusan Mannesmann is among the leading players of steel pipe market in Europe. One of its top goals is to become a global player in the pipe industry. This investment is not only a way to insert Borusan Mannesmann into the US market; it is also the first step to becoming an international manufacturer.” Board chairman Semih Özmen added, “Investing in a product that requires the use of advanced technology such as OCTG pipes requires significant know-how and expertise and our new CEO, Buddy Brewer, is among the few individuals with the experience and knowledge to carry this through. Not only that, Borusan Mannesmann is among the few firms with the strength to make such an investment.” Borusan Mannesmann has realised many oil and natural gas pipeline projects in Turkey, Central Europe and North Africa. The Elba Express and Line 300 natural gas pipeline projects brought the company prestige in the US market, and over the last three years it has become one of the largest international companies that exports to the United States the pipes used in oil and natural gas exploration and extraction. Borusan Mannesmann – Turkey Fax: +90 212 293 69 60 Email: mannesmann@borusan.com Website: www.borusanmannesmann.com

used in the energy sector for several years, Borusan Mannesmann now aims to become a local manufacturer in order to be closer to the market and its customer base. A pipe manufacturing plant with an annual production capacity

TURKISH steel pipe manufacturer Borusan Mannesmann will invest US$150mn in the United States to establish a steel pipe manufacturing plant to cater to the energy sector. After supplying the US market with pipes

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M arch 2013