Greek Corinth Pipeworks, part of Belgium’s Cenergy Holdings, has entered into an agreement to acquire a 100-year-old longitudinal submerged arc welding (LSAW) pipe mill in the UK for a total consideration of GBP 10 million (around €11.45 million).
Corinth Pipeworks UK Ltd and the joint administrators of BTG Begbies Traynor (London) LLP, appointed by the Business and Property Courts of England and Wales in London, acting as agents of Liberty Pipes (Hartlepool) Limited, which is in administration, signed an asset sale agreement (ASA) on March 4 for the LSAW pipes facility in Hartlepool.
The Hartlepool LSAW pipes facility was established in 1926 and has supplied high-performance pipe solutions to Shell, BP, Total, Equinor, Subsea 7 and Saipem, among others, Corinth Pipeworks said, noting that trends in reshoring and national supply chain resilience further enhance its growth potential.
According to Ilias Bekiros, General Manager of Corinth Pipeworks , the strategic acquisition intends to double Corinth Pipeworks’ LSAW capacity, enabling the company to undertake major projects worldwide.
“Cenergy Holdings and CPW are often associated with tackling complex steel pipe projects, so acquiring this asset marks a noteworthy advancement for us. With new LSAW pipe production capabilities—which are valued for their mechanical strength, high quality, and suitability for critical, high-pressure uses—we’re expanding our potential. By merging our global expertise with a top-tier mill and skilled workforce, we can provide tailored solutions to clients worldwide,” Alexis Alexiou , CEO of Cenergy Holdings, said.