TUBACEX: an ADAPTABLE company
In our history of over 50 years, TUBACEX Group has not only been very successful but has also faced several crisis situations and some of which have seriously threatened our capacity to survive.
The most critical time was in 1992 when the crisis in our traditional sector led TUBACEX to suspension of payment. However, the Company demonstrated an outstanding capacity to adapt and started a complete reorganization period with a new organization specializing in seamless stainless steel tubes and with strong restructuring both at industrial and workforce levels. Thanks to the measures implemented at that time, in 1995 the company started to obtain benefits and a period of international growth started.
Nevertheless, a new global crisis in 2008 caused the collapse of investments in the oil sector and TUBACEX went back to experiencing losses in 2009. Far from stopping investments, the way to address the crisis was to commit to innovation again. Thus, from 2008 to 2012, more than €150 million were invested specifically in the company orientation to high added value products for the oil & gas and electricity generation sector.
The way we faced the crisis was our commitment to innovation
Throughout these years, the company has not only evolved from an industrial point of view to become the first global manufacturer of seamless stainless steel tubes; but has also developed from a cultural point of view. The company culture, based on effort and team work, is the basis which has led to success in all our industrial transformations.
At TUBACEX we maintain our strategic commitment to profitable growth
Yet again the Group is facing an unprecedented crisis situation in the oil sector. Nevertheless, TUBACEX's DNA has the formula to adapt to hostile environments, not only resisting but also making the most of that time to grow. This is why our response to the crisis is still a commitment to innovation and development of new products. Because this response has always led us to success. We maintain our strategic commitment to profitable growth and our target of becoming a leading provider of tubular solutions. For this reason, the Group will continue to make strategic investments as we know our future growth depends on them and thanks to them and the effort of the entire workforce, our company will come out stronger from the crisis and go on to write another successful chapter in our history.