Steel Mills
Tenaris Expands Presence in U.S. Tubular Market
Written by Sandy Williams
January 3, 2020
Tenaris S.A. has completed its acquisition of IPSCO Tubulars from Russian steel manufacturer PAO TMK. The $1.1 billion transaction includes a six-year distribution agreement that, as of Jan. 2, makes Tenaris the exclusive distributor of TMK’s OCTG and line pipe products in the U.S. and Canada.
Tenaris’ facilities are primarily located in the South and include the Bay City pipe mill in Houston and the Conroe plant that was reopened in 2019. The addition of IPSCO Tubulars will extend Tenaris’ geographic reach into the midwestern and northeastern parts of the U.S. The acquisition adds a steel bar production facility in Koppel, Pa., and a second facility in Ambridge, Pa., that will complement the Bay City seamless tube production. The IPSCO transaction will also provide additional welding, heat treatment and finishing facilities to better serve customers throughout the country.
IPSCO Tubulars is a U.S. domestic producer of seamless and welded OCTG and line pipe products with an annual production capacity of 450,000 metric tons of steel bars, 400,000 metric tons of seamless pipe and 1,000,000 metric tons of welded pipe.
Paolo Rocca, chairman and CEO of Tenaris, commented: “Over the past 15 years, we have been expanding our manufacturing presence and positioning in the U.S. market. This acquisition would mark a further step in our journey as a domestic producer and supplier to the U.S. oil and gas industry.”
Sandy Williams
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