Spain-based seamless stainless steel pipe producer Tubacex has announced that it has sold its non-strategic asset Tubos Mecánicos to the Galician metallurgical group Hierros Añón, specialized in the manufacture and distribution of steel products mainly in the Spanish market, to reinforce its balance sheet and address its future growth in line with the energy transition. The transaction was worth €25 million.
Tubos Mecánicos is a distributor of carbon steel bars and tubes purchased from third parties for industrial sectors in the national market, with six warehouses in Barcelona, Zaragoza, Alava, Galicia, Madrid and Valencia.