Welspun Corp establishes wholly-owned subsidiary in Spain

Welspun Corp (BSE: WELCORP) has announced the incorporation of a wholly-owned subsidiary, Welspun Europe S. A., in Spain. The move aims to strengthen the company's export capabilities across its various business verticals. Incorporated on February 20, 2025, with a share capital of Euro 60,000, Welspun Europe S. A. will operate in the pipes industry, trading in pig iron, crude iron, and systems for fluid transport. The new entity is yet to commence business operations. Welspun Corp clarified that the formation of Welspun Europe S. A. is considered a related party transaction. This strategic expansion aligns with Welspun Corp's broader business objectives and commitment to growth in the European market.