• Skip to main content

    Overseas

    February 17, 2023

    Tenaris Plans to Increase Spending on US Operations

    Tenaris SA will redirect funds initially slated for the acquisition of Benteler Steel & Tube Manufacturing Corp. in Shreveport, La., to its existing operations in the US.

    Screen Shot 2023 02 17 at 1.19.32 PM“We will reorient our investment plan in the United States to achieve, through organic growth, the objective of strengthening our local industrial and logistics system,” Tenaris chairman and CEO Paolo Rocca said Feb. 16 in a fourth quarter earnings conference call.

    Latest in Overseas

    Price on Trade: Milwaukee Framework is a step forward on steel excess capacity

    Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.