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BORUSAN TAKES OVER AN ITALIAN PIPE FACTORY, STRUCTO VOBARNO
Borusanmannesmann Boru Yatirim Holding A.S.
Port Pipe and Tube Inc
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Company: Borusanmannesmann Boru Yatirim Holding A.S., Turkey
Attn: Tijen Cidam

Borusan Mannesmann, a subsidiary of the Turkish Borusan Group, is already among the five biggest manufacturers of longitudinal welded pipes in Europe. As a result of the acquisition of Structo Vobarno, located in Lombardia, North Italy, it will increase its drawn tube manufacturing capacity three-fold. This acquisition will constitute a strategic step towards realizing our target of becoming a major international player in cold drawn tubes market, says the Managing Director of Borusan Group Agah Uur.


Borusan Mannesmann, a subsidiary of Borusan group companies ranking among the leading pipe manufacturers in the world, acquired Structo Vobarno factory in north east of the province of Brescia, in the Lombardia Region of northern Italy.

At a time when many Turkish companies suspend investments and cut expenditures as a measure against the severe crisis that the Turkish economy has been undergoing since February 2001, Borusans investment is considered as a bold attempt for further growth and being an integral part of the European market.

With nearly USD 250 million gross revenue per year, 650.000 tons production capacity and by far number one in terms of product range, Borusan Mannesman aims, with this acquisition, at increasing its cold drawn production capacity three times and improve its already strong position as a consistent exporter of cold drawn tubes to Europe, especially to Germany and Italy. Structo Vobarnos strategic location offering great advantages in terms of logistics and proximity to European customers combined with a higher synergy between Borusan Mannesmanns existing production facilities will contribute to the companys achieving greater customer satisfaction and operational efficiency.

Located at the north east of the province of Brescia, in the Lombardy Region of northern Italy, Structo Vobarno, is part of the former industrial complex of the famous Falck Steel Company. It covers an enclosed area of 18,581 m2 and a total external area of 29,227 m2 and has a production capacity of 30,000 tons of cold drawn tubes mainly used by the automotive industry.

Speaking at a Press Conference, Managing Director of Borusan Group Companies Agah Uur said Turkey would overcome the crisis by increasing production at a greater pace and integrating with the world economy on a wider scale. It has always been one of Borusans chief targets to be a European company, he continued, and it has made great progress so far in this respect. Our buying Structo Vobarno constitutes a significant step towards realizing this objective.

Bulent Demirciolu, the Managing Director of Borusan Mannesmann, emphasised on the other hand that their acquisition of Structo Vobarno marked a turning point in their process of growth, as from now on, in addition to being a major supplier of cold drawn tubes to Europe, they will operate as a European producer. We already enjoy the widest product range in the world, he commented. We have set ourselves the task of increasing our share in the European drawn tube market to 10%. Our new acquisition will offer many advantages in terms of logistics, new product development and improvement of the existing sales channels, thus enabling us to better meet the requirements of our European customers and comply with the strict product delivery timetables of the automotive industry.

NOTE TO EDITOR

About Borusan Mannesmann Boru Yatrm Holding A..

Established in 1958 as the first industrial concern of the Borusan Group, Borusan Birleik Boru Fabrikalar A. has been the core from which other Group companies have grown and developed. Celebrating its 40th year of operation in 1998, the company has increased its production capacity of steel pipe from an initial 2,000 tons per year to 400,000 tons per year. In December 1998, Borusan Boru and the German Industrial giant Mannesmannrohren Werke had jointly established the Borusan Mannesmann Boru Yatrm Holding A.. thus becoming one of the first 5 biggest longitudinal welded steel pipe manufacturers in Europe with nearly USD 250 million gross revenue per year and 650.000 tons production capacity and by far number one in terms of product range.

Borusan Mannesmann ranks among the leading pipe manufacturers of the world. The Company annually processes over a thousand different pipes and hollows with external diameters ranging from 4.6 mm. to 2540 mm. and thickness between 0.6 mm and 23.0 mm. In 2000, the overall sales volume of Borusan Mannesmann has been realised at 485.000 tons in three plants; Gemlik-Bursa, Halkali-stanbul and zmit-Kocaeli. Total exports for the year amounted to 131.000 tons, with 70% being destined to EU and North American countries. Other export markets are concentrated in the Middle East and North Africa and Asia and the Far East.

Enjoying a market share of over 35% in the local market, the strategy of Borusan Mannesmann is to keep its present production capacity, investing only for maintenance and modernization in the standard pipe business whereas to grow in the cold drawn precision tube segment which includes high value added products used in automotive, steel furniture, home appliance and engineering industries.


     Tel: 90 212 251 34 10   Fax: 90 212 293 69 60
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