Corinth Pipeworks, which is owned by Cenergy Holdings, has bought Liberty Pipes Hartlepool, Kallanish learns from the companies.
Liberty launched an accelerated sales process for the pipe facility in February, selling the business to Corinth for £10 million ($13.4m).
The Asset Sale Agreement (ASA) was signed on 4 March between Corinth Pipeworks UK, a wholly owned subsidiary of Corinth Pipeworks (CPW), and the joint administrators of Begbies Traynor, appointed by the Business and Property Courts of England and Wales in London.
Corinth says the strategic acquisition marks an important milestone in the long-term growth plan of the pipework’s business by increasing its capacity and strengthening its position as a key supplier to the global energy sector.
The facility produces submerged arc welded (SAW) line pipe and has a capacity of 250,000 tonnes/year, providing pipe for the carbon capture sector, hydrogen infrastructure, LNG and oil and gas projects across the UK, EU, Americas, the Middle East and Asia.
Alexis Alexiou, chief executive of Cenergy Holdings, says: “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.”
Corinth also says the facility is a significant asset for the UK and aligned with government priorities in infrastructure renewal and decarbonisation, through the use of hydrogen and carbon capture & storage. Trends in reshoring and national supply chain resilience further enhance its growth potential.
Ilias Bekiros, general manager of Corinth Pipeworks, adds: “Hartlepool LSAW facility’s strategic acquisition intends to double CPW’s LSAW capacity, enabling the company to undertake major projects worldwide. The move further strengthens CPW’s position as a leading manufacturer of pipes for demanding deep offshore applications, supported by an exceptional track record in the industry.”
