Tenaris completes US$28 million Acindar acquisition

Tenaris completes US$28 million Acindar acquisition

Tenaris S.A. has finalized its acquisition of the facilities and welded pipe assets of Acindar Industria Argentina de Aceros S.A. (Acindar) for US$28 million, through its Argentine welded pipe subsidiary, Siat S.A. The facilities acquired are located in Villa Constutucion, Santa Fe, and have an annual capacity of 80,000 tons of small diameter welded pipe. This complements the range of pipes currently produced by Tenaris in Argentina. Tenaris is at the forefront of global steel pipe production. The company has an extensive network of manufacture facilities, including locations in Brazil, Argentina, Canada, Japan, Italy, Romania, Venezuela and a head office in Luxembourg.