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.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
O&M Turbine Wind Techs
Expertise: Mechanical Technician
Location: Oklahoma, OK
Field Operations Supervisor II Job
Expertise: Field Service Tech|Refinery / Plant Operations Supervisor|Regulatory Compliance
Location: Minneapolis, MN
Supervisor Material Operations Job
Expertise: Materials Management |Purchasing|Supply Chain Management
Location: Amarillo, TX
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours