Turkey's leading steel pipe producer Borusan Mannesman Boru registered a profit of TRY 22.48 million ($14.74 million) in 2009, compared to a loss of TRY 37.63 million in 2008, thanks to its effective administration of operational expenses, while its sales revenues regressed by 33.06 percent year on year to TRY 776.3 million ($508.85 million).
In the year in question, the company's steel pipe sales fell 19 percent year on year, reaching 546,000 metric tons, due to the challenging market situation with declines in demand seen in both domestic and export markets, as well as the falls in raw material and steel pipe prices. However, the share of exports did not witness any change compared to the previous year, remaining at 50 percent.
In 2009, Europe was the major export market of Borusan Mannesmann, with a 43 percent share of its total export sales, followed by North America with a 31 percent share, and Africa with a 20 percent share, while six percent of total exports sales were destined to the Asian market.
High value-added products accounted for 46 percent of the company's total sales. The company stated that it continues to be the local market leader with a 25 percent market share in the longitudinal pipe market.
In 2009, Borusan Mannesman's steel pipe output totaled 536,000 metric tons, decreasing by 24 percent year on year.
Established in 1958, Borusan Mannesmann's annual steel pipe production capacity is 1,000,000 metric tons, including 800,000 metric tons of longitudinal welded pipes and 200,000 metric tons of spiral welded pipes, while its subsidiary in Vaborno, Italy can produce 28,000 metric tons of high value-added cold drawn pipe for the automotive industry, primarily in Italy, Germany, Spain and in France.