The Eusider Group, an Italian steel service center has acquired welded pipe producer Bidue, which is based in northeast Italy and is a key exporter of the product.
Media reports indicate that the acquisition will give Eusider, which is owned by the Anghileri Group, access to the export market for welded steel pipes and expand its product range.
Eufrasio Anghileri, chief executive officer of the Anghileri group said in an interview with the Italian media that Bidue’s acquisition would allow the company to get access to the welded pipes maker’s certifications, which would allow Eusider to strengthen its position in the “earthmoving and industrial vehicles supply chain.”
Bidue, which exports its products to other European countries as well as the US, Brazil, Russia, Australia, China, Mexico, and India, with sales valued at around €20mn ($24.31mn) between 2017-2019. Around 80pc of Bidue revenue came from exports. In 2019, Eusider sold around 1.25mn mt of steel products with a turnover of around €696.9mn. However, only 30pc of Eusider’s revenue was from exports.
(€1=$1.21)