07
Jun
11:44
Marcegaglia buys tube mill in Italy
Italian tube maker Marcegaglia has completed the purchase of Italian cold drawn welded and seamless tubemaker Novero Spa in Turin, Kallanish learns from a source close to the deal.
Marcegaglia has purchased an 80% stake in the company that has a turnover of €20 million ($23.6m). This is in line with the Group's strategy to strengthen its core business. Novero has an annual output capacity of over 12,000 tonnes/year. The objective of …
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