TPi November 2015

business & market news

Tubacex completes acquisition of Prakash

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 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

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 – Spain www.tubacex.com

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