India’s Welspun Corp, a manufacturer of specialty steel tubes, has incorporated a wholly-owned subsidiary, Welspun Europe S.A., in Spain, to give a thrust to its exports across all business verticals, the company said in a regulatory filing on Wednesday, February 26.
The primary objective of this new entity is to engage in the trading of pig iron, crude iron, as well as various types of conduits and systems for fluid transport. These include ductile iron conduits, carbon steel conduits, PVC-O conduits, stainless steel pipes, and water storage tanks, the company said.
The cost of the acquisition and the tenure were not disclosed in the regulatory filing.
