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.

More information is available at the following websites:

https://www.mannesmann-stainless-tubes.com
http://www.tubesotep.com

Contact:
Bernhard Kleinermann
Press Spokesman
Salzgitter AG
Corporate communication
Phone + 49 5341 21 2300
Fax + 49 5341 21 2302
E-mail: kleinermann.b@salzgitter-ag.de
www.salzgitter-ag.com

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Salzgitter AG published this content on 22 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 May 2018 11:32:06 UTC