On March 19, Luxembourg-based tubemaker Tenaris S.A. has announced that it will temporarily halt some of its US mills.
Accordingly, the company’s electric arc furnace (EAF) billet mill located in Koppel, Pennsylvania with a 600,000 mt per year capacity and its seamless pipe mill in Ambridge, Pennsylvania with a 496,000 mt per year capacity will be shut down on March 31, while its threading plant in Brookfield, Ohio will be idled on April,17.
Tenaris will also lay off more than 900 employees in total including employee reductions at its threading plant in Baytown, Texas and its welded pipe plant in Hickman, Arkansas as of April, 17, due to a sharp decline in oil prices and lower activities in the market.
Tenaris US president Luca Zanotti said that the company had to implement tough but short-term measures in order to provide a long-term solid position for its customers in these extraordinary days.