French seamless steel tube producer Vallourec announced that its subsidiary Valtimet acquired a 75 percent stake in CST Ltd, an Indian tube maker located in Hyderabad. The company has been renamed CST Valinox Ltd.
Under the new management, annual
production capacity of CST Valinox will increase from the current 1,200 mts to 3,600 mts.
CST Valinox Ltd will be the leader in the Indian market for tubes for power plant condenser and feed water heater with estimated full-year sales of around €15 million.