TUBACEX sells Tubos Mecánicos to Hierros Añón
TUBACEX has sold Tubos Mecánicos to the Galician metallurgical group Hierros Añón for 25 million euros; final additional adjustments to be included. With this operation, the company with its headquarters in the Basque Country has disinvested in a non-strategic asset to reinforce its balance sheet and address its future growth in line with the energy transition.
Tubos Mecánicos is a distributor of carbon steel bars and tubes purchased from third parties for industrial sectors with a long tradition in the national market, with six warehouses in Barcelona, Zaragoza, Alava, Galicia, Madrid and Valencia. It began its activity in 1973 and has always been linked to the Tubacex Group, despite the fact that in recent years there were no synergies with the Group's businesses.
This acquisition strengthens the leadership of Hierros Añón in the distribution of steel products iron, steel and aluminum- particularly in the national market. TUBACEX accelerates its new strategic plan focused on the supply of comprehensive solutions of high technological value in a market that faces the challenge of decarbonization and promotion of clean energies.
Key partner in the energy transition
TUBACEX's new strategic plan, which will be presented in the first quarter of the year, is focused on supplying innovative solutions that support the decarbonization process of its clients, or the entry into developing markets. To do this, it contemplates investments in strategic assets that boost its positioning, as well as divestments in those businesses that do not support its new growth cycle.
Comments