Despite the fact that the global stainless steel market is experiencing economic difficulties, the industry group TUBACEX (Spain), which manufactures seamless stainless steel pipe, is investing in its own development. The company's management intends to invest € 25 million. In pipe plants in municipalities Amurrio and Llodio (Province of Alava). Finance will be used to develop lines for the production of pipes for the oil and gas industry.
TUBACEX Management expects that in the near future, the world demand for seamless stainless steel pipe will increase, continuing momentum in 2011. And it is for the company (for the first 9 months of work) was good: in comparison with the same period in 2010, the financial condition of the company's EBITDA improved to 279.4% (23.7 billion euros this year and 6.25 billion euros in last year). A consolidated net profit corporation in the first nine months of the year rose to 2,610 million. EUR (compared with a loss of 8,220 mln. EUR in the same period of 2010). Before the crisis, the annual amount of profit organizations exceed 50 million. EUR.
TUBACEX — a group of companies formed in 1963. Main specialization — production and sale of stainless steel seamless pipe. company's products are successfully sold in more than 60 countries around the world. In 2011, more than 95% of sales brought in foreign trade operations.