The Romanian facility of the Italian industrial group Tenaris, the leader of the global tube market, has reported 20% higher production and a similar turnover growth.
Tenaris Romania produced almost 170,000 tonnes of tubes in 2004, with Silcotub's turnover reaching around 116 million euros. Beside Silcotub, Tenaris also owns tube producer Tubinox Bucharest, which it took over in 2003.
"The company's improved results in 2004 were largely due to the global economic context. Demand for petroleum is still high and this is reflected in the demand for products manufactured by Tenaris," said Paolo Bassetti, who is the Tenaris manager for Central and Eastern Europe and the Commonwealth of Independent States, as well as executive vice-president of Tenaris Silcotub Romania.
Tenaris took over Silcotub Zalau mid last year by acquiring Tubman International, the majority stockholder in Silcotub. Beside Silcotub, Tenaris also took over Laminorul Braila, whose majority stake it ceded to the state at the end of last year. "One of Tenaris' targets is to consolidate the results it achieved on the Romanian market through production integration, thereby eliminating imports of raw materials from Russia," said Bassetti. Raw materials imports by Tenaris represent about 90 million euros annually, according to the company official.
As part of integrating production, says Bassetti, Tenaris plans to take over a Romanian steel mill. The only available options in this regard would be Combinatul de Utilaj Greu (CUG) of Cluj and the assets of the former Calarasi-based Siderca steel mill.
alexandru.cerchez@zf.ro
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