Tenaris seeks to acquire Argentine welded pipe assets
Tenaris S.A. announced today that it has made a binding offer to acquire the welded
pipe assets and facilities of Acindar Industrial
Argentina de Aceros S.A. (Acindar) in Villa Constitucion, Santa Fe, for approximately US$28 million.
The acquisition has been approved by the Argentine competition authorities, but it is still subject to Acindar being released from its general restriction on asset dispositions while undergoing its restructuring process.
Acindar's welded
pipe facilities, which would be acquired through Tenaris' Argentine welded
pipe subsidiary, Siat S.A., have an annual capacity of 80'000 tons of small diameter
pipe.
Tenaris, headquartered in
Luxembourg, is a world leader in the
manufacturing of seamless steel
pipe products, with
pipe facilities in
South America,
Europe, and
Japan.