Tenaris announced this that it will temporarily suspend operations at its welded tubes mill in Conroe, Texas, resulting in the layoff of approximately 230 employees, effective April 24, 2015.
In a released statement, Tenaris said: “Record levels of unfairly traded imports of OCTG (oil country tubular goods) from South Korea and the sharp decline in the price of oil and consequential reduction in drilling activity have driven Tenaris to make this decision.
“Tenaris remains committed to the
US industry, focused on sustainable and long-term growth in the domestic market. The company continues with its investment plans, such as the seamless pipe mill in Bay City, Texas, and the sucker rods facility in Conroe, while upholding its commitment to the local communities