Tenaris Expands Presence in U.S. Tubular Market

Tenaris S.A. has completed its acquisition of IPSCO Tubulars from Russian steel manufacturer PAO TMK. The $1.1 billion transaction includes a six-year distribution agreement that, as of Jan. 2, makes Tenaris the exclusive distributor of TMK’s OCTG and line pipe products in the U.S. and Canada.

Tenaris’ facilities are primarily located in the South and include the Bay City pipe mill in Houston and the Conroe plant that was reopened in 2019. The addition of IPSCO Tubulars will extend Tenaris’ geographic reach into the midwestern and northeastern parts of the U.S. The acquisition adds a steel bar production facility in Koppel, Pa., and a second facility in Ambridge, Pa., that will complement the Bay City seamless tube production. The IPSCO transaction will also provide additional welding, heat treatment and finishing facilities to better serve customers throughout the country.