Outokumpu signs JV deal for tubular unit

Friday, 23 September 2011 17:26:27 (GMT+3)   |  
       

Finland-based stainless steel producer Outokumpu has signed a joint venture agreement with the Italian company Tubinoxia, controlled by Andrea Gatti, for Outokumpu's tubular unit (OSTP). The joint venture is expected to become effective as of beginning of October.

As SteelOrbis previously announced, the letter of intent for the joint venture was signed in July, indicating that Tubinoxia will have 36 percent of shares in OSTP, also keeping the option to acquire up to 51 percent of share in a three-year time period.


Similar articles

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News

Tata Steel Nederland plans to close precision tube operations

22 Mar | Steel News