Global
pipe and tube producer Tenaris S.A. has announced the successful completion of the renegotiation of its joint venture agreement with
Japan-based
JFE Steel Corporation for the governance and operation of NKKTUBES. NKKTUBES is a leading Japanese seamless steel
pipe manufacturer that produces a wide range of carbon, alloy and stainless steel pipes for the domestic and export markets. Tenaris holds a 51 percent interest in NKKTUBES, while
JFE Steel holds the remaining 49 percent.
According to Tenaris' statement, the joint venture agreement, which was due to expire on July 31, 2015, will now run through July 31, 2030.
JFE Steel will continue to supply steel billets and other essential inputs and services to NKKTUBES under existing supply agreements.