AcquisitionsMay 8, 2026, 06:22 PM
Tenaris to Acquire Artrom Steel Tubes for EUR 86M
AI Summary
Tenaris S.A. announced a definitive agreement to acquire 100% of Artrom Steel Tubes S.A. from GLGH Steel, LLC for EUR 86 million. Artrom Steel Tubes, a Romanian manufacturer, has an annual steelmaking capacity of approximately 450,000 metric tons and seamless pipe rolling capacity of up to 200,000 metric tons. This acquisition is expected to expand Tenaris's industrial pipe product range and manufacturing footprint, strengthening its ability to serve European customers. The transaction is subject to regulatory approvals and is anticipated to close in the fourth quarter of 2026.
Key Highlights
- Tenaris to acquire 100% of Artrom Steel Tubes S.A. from GLGH Steel, LLC.
- Aggregate purchase price is EUR 86 million on a cash-free and debt-free basis.
- Artrom Steel Tubes S.A. is a Romanian manufacturer of steel and seamless steel pipes.
- Artrom has an annual steelmaking capacity of approximately 450,000 metric tons.
- Seamless pipe rolling capacity is up to 200,000 metric tons at its Slatina facility.
- Transaction is subject to EU competition and Romanian government approvals.
- Closing is expected to occur during the fourth quarter of 2026.
- Acquisition will expand Tenaris's industrial pipe product range and manufacturing footprint.