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.
