Spain-based Tubacex, the world’s second largest stainless steel seamless pipe producer said that its EBITDA in the first quarter of this year were at €14.37 million, increasing by 38.6% year on year.
In the first quarter of this year, the company’s net profits were at €3.53 million, jumping by 3 times.
Tubacex said that its financial result will improve in 2013 as the company has aimed to develop high-value added products such as gas and oil pipes.
Meanwhile, Tubacex said that its expansion plan at its Amurrio will be completed by end of this year. It will help to increase its OCTG output.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64776&division=A6
