Luxembourg-based international steel pipe manufacturer Tenaris has announced the conclusion of a definitive agreement to acquire Romanian steel and seamless pipe manufacturer Artrom Steel Tubes S. A. The deal aims to strengthen Tenaris' production base in Europe and expand the product range for customers in the industrial pipe segment.

According to the company's announcement, Tenaris will acquire 100% of the authorized capital of Artrom Steel Tubes S. A. from the American company GLGH Steel, LLC. The total purchase price was set at 86 million euros on a non-cash and debt basis, including the normalized working capital level. The transaction is expected to be completed in the fourth quarter of this year 2026.

Artrom Steel Tubes S. A. Produces steel and seamless pipes in Romania. The company operates two large production sites:

The Reshica plant: the annual steel smelting capacity is about 450,000 tons The Slatina plant: the seamless pipe production capacity reaches 200,000 tons per year, these assets are expected to help Tenaris in the production of industrial pipes in Europe and strengthen its regional production network.

Author: Stilorbis

Steelorbis.com