Tenaris announced that it has reached an agreement to acquire 100% of the shares of Artrom Steel Tubes S.A., owned by US-based GLGH Steel LLC.
The purchase price was announced at EUR 86 million on a cash-free and debt-free basis, including normalized working capital.
The transaction will be subject to customary regulatory conditions, including clearance from European Union competition authorities and the required approvals from the Romanian government. The acquisition is expected to be completed in the fourth quarter of 2026.
Annual steel production capacity of 450,000 tons
Artrom Steel Tubes produces steel and seamless steel pipes in Romania. The company's Reșița facility has an annual steel production capacity of approximately 450,000 tons.
Its Slatina facility has an annual seamless pipe rolling capacity of up to 200,000 tons.
Through the acquisition, Tenaris aims to expand its industrial pipe product portfolio and manufacturing network. The transaction is expected to strengthen the company's ability to serve its industrial customers in Europe.
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