Tenaris Completes Acquisition of Acindar Welded Pipe Plant

Tenaris S.A. says that, through its Argentine welded pipe subsidiary, Siat S.A., it has completed the acquisition of the welded pipe assets and facilities of Acindar Industria Argentina de Aceros S.A. (Acindar) located in Villa Constitucion, Santa Fe, for US$28 million. The facilities acquired have an annual capacity of 80,000 tons of welded pipes whose small diameter range largely complements the range of welded pipes that Tenaris currently produces in Argentina.

Tenaris is a leading global manufacturer of seamless steel pipe products and provider of pipe handling, stocking and distribution services to the oil and gas, energy and mechanical industries and a leading regional supplier of welded steel pipes for gas pipelines in South America. Domiciled in Luxembourg, it has pipe manufacturing facilities in Argentina, Brazil, Canada, Italy, Japan, Mexico, Romania and Venezuela and a network of customer service centers present in over 20 countries worldwide.