MADRID, 4 Ene. (EUROPA PRESS) -

The Turkish holding Tosyali has acquired the Spanish company Baika Steel Tubular Systems (STS), specialized in the production of steel tubes, with the aim of satisfying the growing demand in Europe due to the new hydrogen distribution networks.

The financial details of this operation have not yet been revealed, although the company has confirmed that it hopes to increase STS's annual production of spiral steel pipe from 150,000 tons to 240,000, as reported by Bloomberg.

Specifically, in December the company Tosyali STS Spain, S.L., whose sole partner is Baika Global Industrial, began its operations, as detailed in the Official Gazette of the Commercial Registry (Borme) of this January 2.

The Turkish holding company already had investments abroad before embarking on the purchase of STS, in countries such as Algeria, where it began working in 2007, as reflected on the multinational's website.