Steel Mills
February 26, 2021
Tenaris Expects Improvement for OCTG in 2021
Written by Sandy Williams
Tenaris, a leading manufacturer of pipe and tube for the energy sector, saw sales rise 12% in the fourth quarter as drilling activity improved in the Americas and sales expanded in the Middle East. Sales of OCTG products rose 11% from the prior quarter in the U.S. and Canada, totaling $391 million for the region.
Fourth-quarter results reflected global recovery from the pandemic. Sales in the quarter totaled $1.1 billion for net income of $110 million, a 405% improvement from the third quarter.
