# 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.

- Type: Acquisition
- Announced: 2014-11-27
- Where: Álava, Spain, Spain
- Value: $37.5M (30.0M EUR)
- Jobs: 80
- Status: announced
- Products: OCTG premium products for oil and gas drilling
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Tubos Reunidos](https://endata.com/companies/19685.md)
- [Marubeni-Itochu Tubulars Europe](https://endata.com/companies/19686.md) (partner)
- [Marubeni-Itochu Steel](https://endata.com/companies/19687.md) (investor)
- [JFE Steel Corporation](https://endata.com/companies/19688.md) (partner)

## Sources

- [studylib.es](https://studylib.es/doc/5460684/hecho-relevante---bolsa-de-madrid), 2016-11-16: "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."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.