Tubacex has reached an agreement with the Indian company, Prakash, to acquire its seamless stainless steel tube business. Therefore, Tubacex will improve its position in the fastest growing markets, with particular emphasis on Asia, where the Group is increasing its commercial presence by strengthening its sales team.
TUBACEX will acquire 68% of the aforementioned Prakash division, which is located close to Mumbai and is a consolidated company founded over 30 years ago, employing about 250 people with a turnover of 25 million Euros.
This acquisition fits perfectly into the company’s Strategic Plan. Following a successful initial phase of strengthening its financial position and improving results (2013-2014), it is now entering into the growth phase (2015 and 2016).
more at http://www.tubacex.es/