106m-euro contracts for Silcotub

Silcotub Zalau, part of the international Tenaris group, the largest pipe maker in the world, reported the signing of contracts worth 106.3 million euros a year with other companies within the group. “These framework-contracts were concluded for five years and regulate the transactions that can be concluded between Silcotub and the other companies inside the group,” the company officials say. The biggest contract in terms of value was signed with Donasid Calarasi for 66.8 million euros a year, according to the report filed with the Bucharest Stock Exchange on Monday. The monthly value of the supplying contract will stand at 5.4 to 6.5 million euros. Tenaris took over 97% in the Donasid Calarasi steel mill this May, by means of transactions worth 37 million euros. Its representatives at the time stated that the move was aimed at cutting manufacturing costs for Silcotub and providing it with a continual source of raw materials. ZF