Turkey's Borusan Group ends partnership with Salzgitter Mannesmann

4 December, 2023 by

Turkey's leading industrial player, Borusan Birleşik Boru Fabrikaları Sanayi ve Ticaret A.Ş., has recently announced a significant strategic shift by acquiring the remaining 23 percent shareholding in Borusan Mannesmann Boru Yatırım Holding A.Ş., effectively securing complete ownership. This move marks the end of a longstanding partnership with Germany's Salzgitter Mannesmann GmbH, which had been in place since 1998.

The restructuring initiative not only solidifies Borusan Group's control over its first industrial venture but also brings about a name change. Formerly known as Borusan Mannesmann, the company now operates under the name Borusan Boru on a global scale, adopting the moniker Borusan Pipe.

As part of its forward-looking expansion plans, Borusan Group is set to commence production at its Romanian facility in 2024. Additionally, a new pipe production line, catering to the construction, general industry, and energy sectors in the US market, is slated to be commissioned in the coming months. These strategic moves position Borusan Group for enhanced autonomy and global competitiveness in the evolving industrial landscape.

Read More: US Steel to idle Granite City mill indefinitely

Vietnam Steel by Hoa Sen Group

in News
Share this post
Our blogs