Basque region, Spain-based seamless stainless steel pipe producer Tubacex has announced that, based on a strategy focused upon premium products, the improvement of its sales positioning, and an entrance into new markets, it has boosted sales of higher added-value products, with a backlog for premium product order intake worth €700 million, the highest in the company’s history, with supply taking place over the next three years.
Accordingly, the company stated that it has signed an agreement with the Iranian government-owned oil company National Iranian Oil Company (NIOC) for the supply of pipes for gas extraction and production. Apart from this order, its order backlog also includes pipe supplies to Norway and a large OCTG order for the leading Russian oil company Lukoil, an order for the supply of umbilical tubes for the Shah Deniz project on the Caspian Sea and pipe orders for power stations and refineries in China.
“Having a backlog worth €700 million for the next three years places us in a highly advantageous position, having met our growth expectations in a segment to which TUBACEX is fully committed and that continues to be a key strategic area. These are the company’s most technically demanding products and one of the most powerful tools to increase the group’s turnover and profitability,” stated Jesús Esmorís, Tubacex’s CEO.