Germany-based steelmaker Salzgitter Group has announced that its subsidiary Mannesmann Stainless Tubes GmbH has acquired the stainless steel tubes manufacturer SOTEP (Société Technique d'Etirage de Précision), based in France.
SOTEP, which was founded in 1980, is a specialist supplier of cold finished seamless stainless steel tubes and is positioned in the premium segment for sectors such as aerospace, power plants, oil and gas. The company operates a plant in Issoudun, France, with 65 employees and generated a turnover of more than €10 million in 2017.
According to Salzgitter, with the acquisition of SOTEP, Mannesmann Stainless Tubes GmbH is extending its product portfolio and sales markets.