- TUBACEX disinvests in a non-strategic asset to reinforce its balance sheet and address its future growth in line with the energy transition.
- This growth is one of the main lines of the new strategic plan that TUBACEX will present to the market in early 2022.
- Tubos Mecánicos is a distributor of carbon steel bars and tubes purchased from third parties with six warehouses in Spain.
- Hierros Añón is a Galician family business specialized in the manufacture and distribution of steel products mainly in the Spanish market.
Llodio, 23rd December, 2021. 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.
About Hierros Añón
Hierros Añón is a Galician family business specialized in the manufacture and distribution of steel products mainly in the Spanish market. Including the six warehouses of Tubos Mecánicos, the Group has 33 distribution centers in Spain as well as 8 factories in Spain and France. With this acquisition Hierros Añón employees more than 850 people.
About TUBACEX
TUBACEX is a multinational group with its headquarters in Alava and a global leader in the manufacture of stainless steel and high-alloyed tubular products. It also offers a wide range of services from the design of tailored solutions to installation and maintenance operations.
It has 20 production plants (in Spain, Austria, Italy, the United States, India and Thailand, as well as Saudi Arabia, Dubai, Norway, Canada and Singapore through the NTS Group), worldwide service centers and sales offices in 38 countries.
TUBACEX has been listed on the Spanish Stock Market since 1970 and is part of the “IBEX SMALL CAPS” Index. www.TUBACEX.com