February 8 (SeeNews) - In SeeNews story "Turkey's Borusan Mannesmann buys land plot for steel pipe plant in Romania" dated January 21, please read in the headline "Turkey's Borusan Mannesmann buys land plot for service centre in Romania" (Corrects purpose of investment).
The first sentence too has been changed to reflect the fact that the company plans to build a service centre for shock absorber tubes for the automotive industry.
A corrected version follows:
Turkish steel pipes manufacturer Borusan Mannesmann said it paid 805,000 euro ($913,362) for a land plot in Romania's southern city of Ploiesti, where it plans to build a service center for shock absorber tubes for the automotive industry.
The acquisition was made through the company's subsidiary in Romania, Borusan Tube Products, Borusan Mannesmann said in a statement published on Turkey's Public Disclosure Platform, KAP, on Thursday.
The company announced in June that it plans to build an $8 million plant in Romania.
The investment will be Borusan's second in Europe, after one in Italy.
Part of the Borusan Group, Borusan Mannesmann operates seven plants across three continents and employs 2,038. The company merged its operations with European steel and technology firm Salzgitter Mannesmann GmbH in 1998.
($= 0.8814 euro)