Tubos Reunidos has recently entered into a binding agreement for the acquisition of the company Rotary Drilling Tools, Inc. (âRDTâ?) for EUR 19.6M. RDT, based in Houston, is one of the main manufacturers in the sector; it has manufacturing facilities specialising in high value added products and its own innovative designs developed in order to make a differentiated contribution to the requirements of the most advanced and competitive oil and gas drilling and production technologies.
For Pedro Abasolo, President of the Group, this transaction represents “A strategic milestone in the history of Tubos Reunidosâ?. The purchase of RDT constitutes a decisive step in pursuit of the Strategic Plan objectives that the president announced at his latest General Shareholders’ Meeting: âWith the acquisition of RDT, together with the finalisation of our investment plan begun in 2012 and the strategic agreement with Marubeni Itochu Tubulars Inc., we have implemented our transformation strategy in one of our main businesses in order to firmly establish ourselves as a Premium tubular solutions providerâ?.
Through RDT, Tubos Reunidos gains its own integral and finishing capabilities in Houston, USA, for its OCTG manufactured at its Amurrio plant in Spain. With this acquisition, the Group obtains logistical, cost and flexibility advantages.
