Turkish Borusan secures $363 million contract for North American project
Borusan Berg Pipe factory. (via Panama City Beach Photography)
Borusan Mannesmann, a leading manufacturer of pipes and tubes, secured a $363 million contract in North America, marking a significant milestone in its international business endeavors. The contract was announced through the Public Disclosure Platform (KAP).
Borusan’s $363 million contract for Blackcomb Mainline Project
The $363 million contract involves Borusan’s subsidiary, Borusan Berg Pipe, and Blackcomb Supply, a subsidiary of WhiteWater Midstream. The focus of this partnership is the Blackcomb Mainline Project, a crucial infrastructure project in North America.
In their official statement, Borusan noted, “Approximately $363 million contract has been signed for the Blackcomb Mainline Project in North America. Deliveries under this contract are planned for 2025.”
The project is expected to significantly boost Borusan’s revenue in 2025.
Impact on Borusan’s share performance
Prior to the announcement of this $363 million contract, Borusan’s shares experienced a notable increase, closing at their highest level for the day.
Over the last five trading sessions, the shares rose nearly 13%, reflecting strong investor confidence. In comparison, the Borsa Istanbul index saw a rise of 3.8% during the same period.
Borusan Pipe, the first industrial enterprise of the Borusan Group, celebrated its 65th anniversary in 2023. Borusan Pipe operates with a workforce of over 2,500 employees and has more than 4,000 product varieties. With eleven facilities across three continents.
