The market demand in Spain and Portugal has dropped dramatically during recent years. Further cutting in the public infrastructure spending makes the situation even more critical and on medium term, business environment remains very pessimistic.
In spite of heavy restructuring processes in the past years, in order to adapt to the market situation, the extremely weak business environment with no positive signals on medium term is forcing Pipelife to close its subsidiaries definitely.
These measures mark a major step towards positioning Pipelife for the future. Through the reshaping of our activities but also through investments in new products and countries, Pipelife has built a strong and solid foundation and can now fully focus on our customers needs in our core markets.
Together with the motivation and expertise of our staff as well as our broad and innovative product portfolio this will ensure that Pipelife is even better prepared for the future and ready for profitable growth as soon as the economy recovers.