Salzgitter AG subsidiary Mannesmann Stainless Tubes GmbH acquires stainless steel tubes specialist SOTEP
22.05.18 – Salzgitter/Mülheim/Issoudun – Mannesmann Stainless Tubes GmbH from Mülheim, Germany, a subsidiary of the Salzgitter Group, has acquired the stainless-steel tubes manufacturer SOTEP (Société Technique d'Etirage de Précision), based in Issoudun, France.
SOTEP, which was founded in 1980, is a specialist supplier of cold finished seamless stainless-steel tubes and is positioned in the premium segment for sectors such as aerospace, power plants, oil and gas. The company operates a plant in Issoudun, France, with 65 employees and generated a turnover of more than 10 million EUR in 2017.
The selling shareholders are Private Equity Fond Orium (70% of the shares) and the founders of SOTEP, Gabriel Pons and Pascal Lebas (15% of the shares each). Mannesmann Stainless Tubes GmbH, is one of the world's leading manufacturers of seamless stainless-steel tubes, operating plants in Germany, France, Italy and the USA. The company, whose history goes back more than 130 years to the invention of seamless steel tubes, possesses one of the most extensive product portfolios in this market segment.
With the acquisition of SOTEP, the Mannesmann Stainless Tubes GmbH is extending its product portfolio and sales markets.
Both parties agreed not to disclose the purchase price.
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