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Tenaris to Acquire Benteler Steel
07/11/2022 - Tenaris SA announced last week it would acquire U.S. seamless steel pipe producer Benteler Steel & Tube Manufacturing Corp. for US$460 million, according to the Reuters news service.
Tenaris said in a statement it will acquire 100% of Benteler Steel on a cash-free, debt-free basis, to include US$52 million of working capital.
Louisiana-based Benteler Steel & Tube Manufacturing Corp. has an annual pipe rolling capacity of 400,000 metric tons at its production facility in Shreveport.
The transaction is expected to close in the fourth quarter of this year.
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