22 May Petrol Raccord exits Raccortubi Group
Raccortubi Group leaves powerGen market segment and cedes Petrol Raccord to Allied Group
Marcallo con Casone, May 18th, 2023
Raccortubi Group announces the exit of Petrol Raccord, which will join Allied Group.
“Market events in recent years have shown that, to be competitive in the power-generation industry, it is necessary to deploy a critical mass and a focus that we have instead on other market segments”, says Mr Luca Pentericci, President of Raccortubi Group.
“As we are structured today, we feel we cannot fully express the value of Petrol Raccord” , the President continues: “we therefore believe that the company needs a different position in the market, with a long-term perspective, inside a bigger Group that could give it more business continuity” and that’s why it’s now becoming part of Allied Group.
The strategic move to exit powerGen application leaves Raccortubi Group business model untouched, as it will continue offering a wide range of piping solutions both from stock and from its integrated production of butt-weld fittings, for a wide range of critical applications.
“The decision to leave the powerGen niche reinforces our commitment to energy transition”, adds Lino D’Onofrio, Managing Director of Raccortubi Group: “we will now be able to focus more on other applications which are going to be crucial in the years to come”.
Raccortubi now foresees to strengthen its core business as special alloys producer, stockist and distributor, bringing more investments to its original plant, Tecninox Srl, in the buttweld fittings manufacturing.