SeAH to buy two Houston OCTG manufacturers

SeAH Steel Corporation, a steel pipe producer in Korea with US headquarters in California, has expanded US activities from distribution to manufacturing after purchasing two Texas-based mills specializing in Oil Country Tubular Goods (OCTG). 

 

SeAH has agreed to purchase both the Laguna Tubular OCTG finishing facility in Houston, and Russia’s OMK Tube mill in northeast Houston at approximately $100 million.

 

The move is also considered a hedge against the new US administration’s protectionist policy as well as providing a key market position once US infrastructure spending increases for shale gas and oil development.