TUBACEX India: Competitiveness & Quality in ASIA
Over the past few years, the Asian market has become one of the markets with highest demand for seamless stainless steel tubes.
Although until now TUBACEX presence on this market was limited, the Group is aware of the importance of this geographical region which will increase in the future. Therefore, the Group needs to reinforce both its industrial and sales presence in this region.
In this context, 67.5% of the seamless stainless steel tube division of the Indian company Prakash Steelage was acquired by the Group. This will be integrated in TUBACEX India with headquarters in Mumbai and production facilities in Umbergaon (Gujarat). The division acquired has an invoicing of 25 million Euros and a workforce of 250 employees.
Thanks to this transaction, TUBACEX reinforces its position on the Asian market, increasing its already existing industrial platform with JSI (IBF) presence in China on the one hand, while increasing its sales presence through the sales team reinforcement on the other.
Quality is the Priority:
All products manufactured by TUBACEX Group share a common principle - compliance with the highest quality standards. This philosophy will be maintained in the new TUBACEX India subsidiary where current and potential Prakash Steelage capacity together with TUBACEX accumulated experience and know-how will be combined with anticipated R&D investments to contribute to guaranteeing compliance with the high quality and service standards demanded by our customers. In this regard, an integration plan has already been defined to promote a significant quality improvement of TUBACEX India products and dimensional range extension in forthcoming months