Newsletters
Turkish conglomerate Borusan Holding, one of Türkiye’s leading steel producers, announced late Monday that its U.S. subsidiary Borusan Berg Pipe has entered talks for a pipeline sales agreement valued at $550 million.
In a filing to the Public Disclosure Platform (KAP), the company said negotiations have begun under an ongoing project, without disclosing the counterparty.
The company noted that the deal, if finalized, is expected to support its 2026 turnover.
Borusan first entered the U.S. market in 2014, investing $150 million to establish a steel pipe plant in Houston, Texas. The facility was recognized as “Technology Provider of the Year” by industry publication American Metal Market (AMM) for its advanced manufacturing standards.
In April 2023, Borusan acquired Berg Pipe, which operates plants in Florida and Alabama, for $162 million.
Borusan’s international growth has included earlier joint ventures with German steelmaker Salzgitter Mannesmann GmbH. That partnership began in 1998 and led to the purchase of Italy’s Vobarno facility in 2001. However, Borusan decided to pursue its own path in 2023, ending the collaboration after nearly 25 years.
Beyond steel, Borusan also restructured other parts of its business. In April, the company sold its logistics arm, Borusan Tedarik, to U.S.-based CEVA Logistics for $440 million.
Founded in 1958, Borusan Holding operates in 11 countries across three continents, employing about 14,000 people, and reported ₺55.06 billion ($1.56 billion) in revenue in 2024.
1 min read
2 min read
