27
Sep
17:20
Tubacex forms Thailand-based JV for stainless components
Spanish stainless steel and high alloy tubemaker Tubacex has formed a joint venture with Japan’s Awaji to produce special stainless steel components in Thailand. Tubacex Awaji Thailand plans to invoice €20-25 million ($22.4m-28m) in three years.
The JV implies a capital increase of $3.3m subscribed by Tubacex Group through the Italian firm IBF, which accounts for 60% of the new company’s stake. As compensation for the remaining 40%, Awaji Materi…
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