Posted on 07 Apr 2022
Turkey's leading steel pipe producer, Borusan Mannesmann, has announced plans to make a new investment of approximately US$50 million in the US.
In addition to its existing drill pipe production activities in the US, Borusan Mannesmann planned to build its US-based subsidiary, Borusan Mannesmann Pipe US Inc. into a local manufacturer in the construction and general industrial sectors in line with its strategic growth goals.
The investment includes updating and transferring the existing pipeline production line and pipeline welding facility in Turkey to the US, transforming it into a complex operation in tandem with the new high-tech accumulation and completion line.
The new investment was expected to take place in 2023, and Borusan Mannesmann Pipe US has an annual turnover target of US$600 million.
Source:Yieh
