Joint Venture between Salzgitter Mannesmann GmbH and AG der Dillinger Hüttenwerke sells Berg Pipe in the US
Active portfolio management under “Salzgitter SZAG 2030”
Strategically aligned new ownership: Borusan Mannesmann with plans to expand its market position in the US
EUROPIPE GmbH whose shareholders are Salzgitter Mannesmann GmbH and AG der Dillinger Hüttenwerke, each with a stake of 50%, sold its subsidiary Berg Pipe (US) to Istanbul-based Borusan Mannesmann (TR), effective April 13, 2023. The transaction has now been contractually concluded.
Berg Pipe that maintains production locations in Mobile, Alabama and Panama City, Florida, is a manufacturer of high-quality steel pipes. The company specializes in producing pipes for the oil and gas sector and is a manufacturer of longitudinally and spiral-welded large-diameter pipes.
As the buyer, Borusan Mannesmann ranks among Europe’s leading steel pipes manufacturers. The acquisition will give the company locations in Turkey, Italy, Romania and the US.
Burkhard Becker, Salzgitter AG's Chief Financial Officer, explains the background to the sale: “This transaction marks another step in our active portfolio management that we are pursuing under our “Salzgitter AG 2030” corporate strategy. In accordance with the best-owner principle, the deal opens up the prospect of optimized strategic development opportunities for Berg Pipe and its employees under the leadership and management of Borusan Mannesmann. We are delighted that Borusan Mannesmann has chosen Berg Pipe in its move to expand its market position in the US.”
