◂ Announcements

Nov 27, 2014ACQUISITIONÁlava, Spain, Spain

Tubos Reunidos and Marubeni-Itochu form joint venture for OCTG premium products

Tubos Reunidos and Marubeni-Itochu Tubulars Europe Plc (MITE) signed an agreement to establish a joint venture in Álava, Spain, to manufacture and supply OCTG premium products for oil and gas drilling. Total investment is around €30 million, with 80 jobs initially. The joint venture is 51% owned by Tubos Reunidos and 49% by MITE, and will start production in Q1 2016.

Value

$37.5M (30.0M EUR)

Jobs

Status

Announced

ProductsOCTG premium products for oil and gas drilling

CompaniesTubos Reunidos Marubeni-Itochu Tubulars Europe partner Marubeni-Itochu Steel investor JFE Steel Corporation partner

Sectors#Steel and Metal Products

“Grupo Tubos Reunidos (TR) ha firmado un acuerdo con Marubeni-Itochu Tubulars Europe Plc. (MITE) para el establecimiento de una empresa conjunta en Álava, España, destinada a la fabricación, comercialización y suministro de productos OCTG Premium.”studylib.es

1 source
studylib.eshecho relevante - Bolsa de MadridNov 16, 2016

Summarized from public sources; check the original articles before acting on it.

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