Tenaris Confirms Full Purchase of Socotherm Brasil
09/08/2014 - Tenaris confirmed the purchase of the remaining 50% of the participation of Socotherm Brasil, which belonged to Socotherm Americas, a division of ShawCor.
The Socotherm Brasil coating facility, located beside the Confab welded pipes mill in Pindamonhangaba, São Paulo, was previously managed in partnership by Tenaris and by ShawCor. The company to date has been constituted by Tenaris and Socotherm Americas, 50% respectively.
As of 4 September 2014, Tenaris became the sole owner of 100% of the shares of the company, with full autonomy for the coating business. Its range of solutions for coatings, produced in the welded pipes facility, is now offered to the market under the Tenaris brand.
“The integration of this coating company with our operations will enable Tenaris to better serve our customers, offering a complete pipe and coating solution mainly for the oil and gas industry worldwide,” said Renato Catallini, president of Tenaris in Brazil.
In Brazil, the challenges of the exploration in deep- and ultra-deepwaters of the Pre-Salt layer, the perspectives from Petrobras and from Sergipe Basin and Amazon Region, demand innovative and technological support for coatings solutions. The Tenaris Research and Development Center in Rio de Janeiro — which was inaugurated in April 2014 — will have a fundamental role in the development of new coatings for the local and global markets.
Tenaris will continue its strategic relationship with Socotherm and ShawCor worldwide as suppliers of coating solutions for its pipeline projects. It thanks Socotherm for its longstanding and fruitful partnership in Brazil since 1999.
As of 4 September 2014, Tenaris became the sole owner of 100% of the shares of the company, with full autonomy for the coating business. Its range of solutions for coatings, produced in the welded pipes facility, is now offered to the market under the Tenaris brand.
“The integration of this coating company with our operations will enable Tenaris to better serve our customers, offering a complete pipe and coating solution mainly for the oil and gas industry worldwide,” said Renato Catallini, president of Tenaris in Brazil.
In Brazil, the challenges of the exploration in deep- and ultra-deepwaters of the Pre-Salt layer, the perspectives from Petrobras and from Sergipe Basin and Amazon Region, demand innovative and technological support for coatings solutions. The Tenaris Research and Development Center in Rio de Janeiro — which was inaugurated in April 2014 — will have a fundamental role in the development of new coatings for the local and global markets.
Tenaris will continue its strategic relationship with Socotherm and ShawCor worldwide as suppliers of coating solutions for its pipeline projects. It thanks Socotherm for its longstanding and fruitful partnership in Brazil since 1999.
