Luxembourg-headquartered international steel pipe producer Tenaris has announced that it will sell its structural pipe unit in Geneva, US, to US-based MKK USA, a subsidiary of Japan-based Maruichi Steel Tube Ltd, for $15 million.
The unit produces square and rectangular welded steel pipes for structural applications. The transaction is expected to close by October 31, 2021.
“The sale of our structural pipe unit in Geneva, despite its excellent performance to date, is in line with our long-term strategy of focusing on our core businesses, serving the domestic market with pipes and innovative services,” Luca Zanotti, Tenaris president, said.
