Tenaris Purchases Remaining Interest in Brazilian Joint Venture
12/06/2013 - Tenaris announced on 4 December 2013 an agreement to purchase, subject to regulatory approval, the remaining 50% interest in Socotherm Brasil from Socotherm Americas, a division of ShawCor.
Socotherm Brasil operates a pipe coating facility managed by Tenaris, which is located near the Confab welded pipe mill in Pindamonhangaba, Brazil. The company to date has been a 50-50 joint venture between Tenaris and Socotherm Americas.
“The integration of this coating company with our operations will enable Tenaris to better serve our customers in Brazil, offering a complete pipe and coating solution for the Latin American oil and gas industry,” said Renato Catallini, president of Tenaris in Brazil.
Tenaris will continue its strategic relationship with Socotherm and ShawCor worldwide as suppliers of coating solutions for our pipeline projects. It thanks Socotherm for their longstanding and fruitful partnership in Brazil since 1999.
“The integration of this coating company with our operations will enable Tenaris to better serve our customers in Brazil, offering a complete pipe and coating solution for the Latin American oil and gas industry,” said Renato Catallini, president of Tenaris in Brazil.
Tenaris will continue its strategic relationship with Socotherm and ShawCor worldwide as suppliers of coating solutions for our pipeline projects. It thanks Socotherm for their longstanding and fruitful partnership in Brazil since 1999.
