Borusan Mannesmann eyes $300 million turnover in 2015 at US OCTG plant

Turkish pipe producer Borusan Mannesmann announced on Thursday, December 11 that its US OCTG plant located in Houston, Texas has been completed ahead of schedule and within the $150 million investment budget. Following the gradual commissioning of the pipe production hall, inspection unit and threading facility, the heat treatment facility has also been commissioned.
                                                                        
According to Borusan Mannesmann, the US OCTG plant has achieved a turnover of $130 million although it has been operating only for the second half of 2014. In 2015, the company plans to reach a turnover of $300 million along with the capacity increase and a turnover of $500 million once the plant is at full capacity.
 
Borusan Mannesmann aims to cater to the OCTG demand of both the US and the global market for shale gas and shale oil drilling. For the last three years, Borusan Mannesmann has become one of the major international companies exporting OCTG pipes for oil and gas extraction and the company now expects to become one of five top producers in the US OCTG market.