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Tenaris to Acquire Artrom Steel Tubes S.A. seamless pipe manufacturing plant in Romania

TS
  • Tenaris S.A. entered a definitive agreement to acquire 100% of Artrom Steel Tubes S.A. from GLGH Steel LLC for EUR 86 million.
  • The transaction is structured on a cash-free, debt-free basis with normalized working capital.
  • Closing is expected in the fourth quarter of 2026, subject to EU competition authority clearance & Romanian government approvals.
  • Artrom Steel Tubes S.A. operates a facility in Reșița with 450,000 metric tons of annual steelmaking capacity & a Slatina facility with 200,000 metric tons of seamless pipe rolling capacity.
  • The acquisition aims to expand Tenaris's industrial pipe product range & manufacturing footprint to better serve European industrial customers.
  • Forward-looking statements regarding the transaction involve risks such as uncertainties in future oil & gas prices.