May. 10 at 3:15 PM
$TS Tenaris to acquire Artrom Steel Tubes plant in Romania
Tenaris S.A. announced that it has entered into a definitive agreement to acquire from GLGH Steel, a U.S.-based company, 100% of the share capital of Artrom Steel Tubes S.A., for an aggregate purchase price of EUR 86M, on a cash-free and debt-free basis, including a normalized level of working capital. The transaction is subject to customary regulatory conditions, including clearance from the European Union competition authorities and Romanian government approvals.
Closing is expected to occur during the fourth quarter of 2026. "Artrom Steel Tubes S.A. is a Romanian manufacturer of steel and seamless steel pipes, with annual steelmaking capacity of approximately 450,000 metric tons at its facility in Reia, and seamless pipe rolling capacity of up to 200,000 metric tons at its Slatina facility. The acquisition is expected to expand Tenaris's industrial pipe product range and manufacturing footprint, strengthening its ability to serve customers in the European industrial segment," Tenaris stated.
