BURSA, Turkey Borusan Mannesmann Boru Sanayi ve Ticaret AS, Turkeys largest steel pipe producer, will spend $150 million to build a plant in the United States.
The investment will be made through sister company Borusan Mannesmann Pipe U.S. Inc. The company said it aims to start production by the second half of 2014, targeting $500 million to $600 million in annual revenue at full capacity.
The mill will produce drilling pipe and small-diameter line pipe primarily serving the shale gas and oil industries.
A version of this article was first published by AMM sister publication Steel First.