Salzgitter Buys Specialty Tube Producer in France
05/22/2018 - Salzgitter Group subsidiary Mannesmann Stainless Tubes GmbH has acquired French stainless tubemaker Société Technique d'Etirage de Précision (SOTEP) for an undisclosed amount, the company has announced.
SOTEP specializes in cold-finished seamless tube and operates a single plant in Issoudun, France. It sells premium products into the aerospace, electrical power generation and oil and gas sectors and recorded sales of more than EUR10 million in 2017.
“With the acquisition of SOTEP, the Mannesmann Stainless Tubes GmbH is extending its product portfolio and sales markets,” the company said in a statement.
