Fives Acquires OTO Mills
Fives signed an agreement to acquire OTO Mills, an Italy-based supplier of high-performance mills for the production of welded tubes and automation systems for the steel industry. OTO’s main activity is to design, manufacture and install complete systems for the production of welded tubes and profiles. The company supplies a wide range of mills for the production of tubes (diameters from ¼ to 24 inches) used in a large variety of industrial applications, including oil and gas. OTO also provides significant automation expertise. The acquisition complements Fives’ current offerings in tube and pipe processing lines.