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Tubacex, a manufacturer of stainless steel and high-alloyed seamless tubes in Spain, announced that it has sold Tubos Mecánicos to Galician metallurgical group Hierros Añón for EUR 25 million. Hierros Añón is a Galician family business specialized in producing and distributing steel products, mainly for Spain’s market.
Through this deal, Tubacex has withdrawn from a non-strategic asset to strengthen its balance sheet and address its future growth in line with the energy transition.
Tubos Mecánicos is a distributor of carbon steel bars and pipes purchased from third parties for industrial sectors, and it has six warehouses in Barcelona, Zaragoza, Alava, Galicia, Madrid, and Valencia.
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