Tenaris to acquire Benteler Steel & Tube pipe manufacturing plant in Shreveport, Louisiana
07 Julho 2022 - 8:10PM
Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) announced
today that it has entered into a definitive agreement to acquire
from Benteler North America Corporation, a Benteler group company,
100% of the shares of Benteler Steel & Tube Manufacturing
Corporation for an aggregate price of US$460 million, on a
cash-free, debt-free basis. The acquisition will include US$52
million of working capital.
The transaction is subject to regulatory
approvals, including approval by the U.S. antitrust authorities,
consent by Louisiana Economic Development and other local entities,
and other customary conditions. Closing is expected to occur during
the fourth quarter of 2022.
Benteler Steel & Tube Manufacturing
Corporation is a U.S. producer of seamless steel pipe, with an
annual pipe rolling capacity of up to 400,000 metric tons at its
production facility located in Shreveport, Louisiana. The
acquisition would further expand Tenaris’s production range and
local manufacturing presence in the U.S. market.
Some of the statements contained in this press
release are "forward-looking statements". Forward-looking
statements are based on management's current views and assumptions
and involve known and unknown risks that could cause actual
results, performance or events to differ materially from those
expressed or implied by those statements.
Tenaris is a leading global supplier of steel
tubes and related services for the world’s energy industry and
certain other industrial applications.
Giovanni
SardagnaTenaris1-888-300-5432www.tenaris.com
Tenaris (BIT:TEN)
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