Luxembourg-headquartered international steel tube producer Tenaris has announced a definitive agreement to acquire Romanian steel and seamless pipe manufacturer Artrom Steel Tubes S.A. The deal is set to strengthen Tenaris’s production base in Europe and expand its product offering for customers in the industrial pipe segment.
According to the company’s announcement, Tenaris will acquire 100% of the share capital of Artrom Steel Tubes S.A. from GLGH Steel, LLC, a US-based company. The aggregate purchase price has been set at €86 million on a cash-free and debt-free basis, including a normalized level of working capital. The transaction is expected to close during the fourth quarter of 2026.
Artrom Steel Tubes S.A. manufactures steel and seamless steel pipes in Romania. The company operates two major production sites:
- Reșița facility: annual steelmaking capacity of approximately 450,000 mt
- Slatina facility: seamless pipe rolling capacity of up to 200,000 mt per year
These assets are expected to support Tenaris’s European industrial pipe operations and strengthen its regional manufacturing network.
