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Metal One Acquires Energy Tubular Distributor in Western Canada
08/27/2014 - Metal One Corp., headquartered in Tokyo, Japan, announced the acquisition of 90% stake of the outstanding and issued shares in Cantak Corporation a major energy tubular distributor in Western Canada, which was effective 2 July 2014.
Cantak, founded in 1953, is a major energy tubular distributor in Western Canada, representing global pipe manufacturers (OCTG and line pipes) from North America, Asia and other regions.
The company is seeing a significant increase in activities in Western Canada to produce and transport energy from the region, to consumers in Canada and other export markets. To support such heightened activities, a stable supply of high quality steel products is of strategic importance, it said.
Metal One's acquisition of Cantak is the company’s response to meet such challenges and better serve the energy industry in Canada by combining the strengths of both companies.
Together with the Cantak's experience in the oil & gas industry, Metal One's global supply network and technical solutions, it is seeking to provide competitive alternatives to the challenges its customers face on a daily basis.
The company is seeing a significant increase in activities in Western Canada to produce and transport energy from the region, to consumers in Canada and other export markets. To support such heightened activities, a stable supply of high quality steel products is of strategic importance, it said.
Metal One's acquisition of Cantak is the company’s response to meet such challenges and better serve the energy industry in Canada by combining the strengths of both companies.
Together with the Cantak's experience in the oil & gas industry, Metal One's global supply network and technical solutions, it is seeking to provide competitive alternatives to the challenges its customers face on a daily basis.
