Tag: IBF

TUBACEX has recently reached an agreement to create a joint venture with the Japanese company Awaji Materia to manufacture special stainless steel components at its factory in Thailand.

Spanish company Tubacex, who specialize in the manufacture of stainless steel tubular solutions mainly for the oil & gas, petrochemical and power generation industries, has reached an agreement with Indian company PRAKASH STEELAGE to acquire 68% of its seamless stainless steel tube division, reinforcing the position of Tubacex in the fastest growing markets, especially Asia where the company plans to strengthen its presence with new commercial offices. Photo courtesy of Tubacex Group PRAKASH STEELAGE LIMITED is a leading manufacturer of stainless steel pipes and tubes in India also mainly oriented to oil & gas, petrochemical and power generation applications.

TUBACEX, the manufacturer of seamless stainless steel tubes, has acquired 65% of the shares in the Italian company, IBF, and maintains a call option for the remaining 35%. A Letter of Intent was signed between the parties last July.