Tenaris Completes Acquisition of Seamless Pipe Indonesia Jaya

Tenaris has completed the previously announced acquisition from Bakrie & Brothers TbK, Green Pipe International Limited and Cakrawala Baru of a 77.45% holding in Seamless Pipe Indonesia Jaya ("SPIJ"), an Indonesian OCTG processing business with heat treatment and premium connection threading facilities, for a purchase price of US $72.5 million, with US $24.9 million being payable as consideration for SPIJ's equity and US $47.6 million as consideration for the assignment of certain sellers' loan to SPIJ.

SPIJ has an annual processing capacity of 120,000 tons and has had a commercial alliance with Tenaris for more than a decade. SPIJ employs around 500 persons and had revenues of approximately US $140 million in 2008. The acquisition would allow Tenaris to strengthen its global production capabilities and its local presence in Indonesia, one of the world's leading producers of LNG.
 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
3rd Engineer Unlimited
Expertise: Ships Engineer
Location: Port Fourchon, LA
 
Electronics technician
Expertise: Electrical Technician|Field Service Tech|Mechanical Technician
Location: El Reno, OK
 
Pipeline Technician - Arrow
Expertise: Heavy Machinery Operator|Pipeline Services|Piping Technician
Location: Keene, ND
 
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours