Luxembourg-based global steel pipe manufacturer Tenaris has announced that it has acquired control of Fast Srl, a Bergamo-based company which manufactures equipment and products used to extract oil and gas.
Fast specializes in the threading of premium connections and has developed sophisticated well accessories for standard and special applications. The company is also a leader in working with complex steels for highly corrosive environments. Tenaris expects this capacity to enhance its ability to provide corrosion resistant alloy threading for casing and tubing, through its alliances with Sandvik and PCC Energy.
"We are confident that the acquisition of Fast will be another step forward in serving our customers, with increased flexibility and the quality that characterizes Tenaris," said Mauro Longobardo, OCTG worldwide coordination director at Tenaris.
Established in the early 1980s, Fast, based in Dalmine, Bergamo, has approximately 50 employees, and an annual turnover of around €8 million.