Tenaris announced that it has entered into a definitive agreement to acquire 100pct of the share capital of Romania-based Artrom Steel Tubes S.A. from U.S.-based GLGH Steel LLC.
The transaction value amounts to EUR 86 mln (USD 101.3 mln) on a cash-free and debt-free basis, including a normalized level of working capital.
The acquisition remains subject to customary regulatory approvals, including clearance from European Union competition authorities and approvals from the Romanian government. The transaction is expected to close during the fourth quarter of 2026.
Artrom Steel Tubes is a Romanian producer of steel and seamless steel pipes, operating a steelmaking facility in Reșița with annual capacity of around 450,000 tons, alongside a seamless pipe rolling facility in Slatina with annual rolling capacity of up to 200,000 tons.
According to Tenaris, the acquisition is expected to expand the company’s industrial pipe product range and manufacturing footprint in Europe, strengthening its position in the European industrial segment.
Tenaris is a global manufacturer of steel pipes and related services for the energy industry, supplying tubular products and technical solutions for oil and gas drilling, production and industrial applications.
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