Cicsa sells pipeline subsidiary to Tubacero

Thursday, April 28, 2011

Mexican construction firm Carso Infraestructura y Construccion (BMV: CICSA) has agreed to sell its carbon steel pipe subsidiary Operadora Cicsa to pipeline manufacturer Tubacero.

Cicsa will no longer participate in the pipeline manufacturing market, but will continue its other manufacturing and service activities for the chemical and petroleum sector, the company said in a report to Mexico City's bourse BMV, without disclosing the price of the sale.

Monterrey-based Tubacero manufactures carbon steel tubes for the oil, gas, power, mining, construction and water sectors.

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Cicsa is the construction and infrastructure division of conglomerate Grupo Carso, owned by local tycoon Carlos Slim.