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Tenaris to Add Small Diameter Seamless Pipe Mill at Veracruz
09/03/2008 - Tenaris SA has announced plans to increase its production capacity by installing a state-of-the-art small-diameter rolling mill for seamless pipe at its industrial facilities located in Veracruz, Mexico.
Tenaris SA has announced plans to increase its production capacity by installing a state-of-the-art small-diameter rolling mill at its industrial facilities located in Veracruz, Mexico.
The new mill will have an annual production capacity of 450,000 tons of seamless pipes. Its installation, along with the associated ironmaking, steelmaking and finishing facilities, will require an investment of approximately US$1.6 billion. The new mill is expected to begin operations by 2011.
In addition to this investment in Mexico, Tenaris said that it also plans to continue to invest in its industrial facilities throughout the world. Its capital investments, excluding the new mill in Mexico, are expected to amount to approximately US$450 million per year over the next three years.
Tenaris says that with these investments, it plans to increase its industrial capacity to meet the growing needs of its customers in Mexico and worldwide, as oil and gas drilling activity expands and becomes more complex.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.
