Tenaris to Acquire Artrom Steel Tubes S.A. seamless pipe manufacturing plant in Romania

Rhea-AI Summary

Tenaris (NYSE:TS) agreed to acquire 100% of Artrom Steel Tubes S.A. from GLGH Steel for an aggregate purchase price of EUR 86 million on a cash-free, debt-free basis, including normalized working capital.

The deal expands Tenaris’s European industrial pipe footprint with Artrom’s Reșița steelmaking capacity of ~450,000 metric tons and Slatina seamless-rolling capacity up to 200,000 metric tons. Closing is expected in Q4 2026, subject to EU competition clearance and Romanian approvals.

AI-generated analysis. Not financial advice.

Positive

• EUR 86m acquisition price for full ownership of Artrom
• Adds ~450,000 mt steelmaking capacity (Reșița)
• Adds up to 200,000 mt seamless pipe rolling capacity (Slatina)
• Expands Tenaris industrial pipe product range and European footprint

Negative

• Transaction subject to EU competition clearance and Romanian government approvals
• Closing expected in Q4 2026, creating execution and timing uncertainty
• Acquisition requires cash outlay of EUR 86m which affects liquidity

News Market Reaction – TS

+3.44%

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+3.44% News Effect

On the day this news was published, TS gained 3.44%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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LUXEMBOURG, May 08, 2026 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS; EXM Italy: TEN) announced today that it has entered into a definitive agreement to acquire from GLGH Steel, LLC, a U.S.-based company, 100% of the share capital of Artrom Steel Tubes S.A., for an aggregate purchase price of EUR 86 million, on a cash-free and debt-free basis, including a normalized level of working capital.

The transaction is subject to customary regulatory conditions, including clearance from the European Union competition authorities and Romanian government approvals. Closing is expected to occur during the fourth quarter of 2026.

Artrom Steel Tubes S.A. is a Romanian manufacturer of steel and seamless steel pipes, with annual steelmaking capacity of approximately 450,000 metric tons at its facility in Reșița, and seamless pipe rolling capacity of up to 200,000 metric tons at its Slatina facility. The acquisition is expected to expand Tenaris’s industrial pipe product range and manufacturing footprint, strengthening its ability to serve customers in the European industrial segment.

Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.

Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.

Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com

FAQ

What did Tenaris (TS) announce on May 8, 2026 about Artrom acquisition?

Tenaris announced it will acquire 100% of Artrom Steel Tubes for EUR 86 million. According to the company, the purchase is cash-free and debt-free and includes normalized working capital, with closing expected in Q4 2026 subject to regulatory approvals.

How much additional production capacity does Tenaris gain from the Artrom deal (TS)?

The acquisition adds approximately 450,000 metric tons of steelmaking capacity and up to 200,000 metric tons of seamless rolling. According to the company, capacities are located in Reșița (steelmaking) and Slatina (seamless rolling).

When will the Tenaris (TS) acquisition of Artrom likely close and what approvals are needed?

Closing is expected in Q4 2026, subject to customary regulatory conditions. According to the company, the deal requires EU competition clearance and Romanian government approvals before completion.

What is the purchase price Tenaris (TS) will pay for Artrom and the deal structure?

Tenaris agreed to pay an aggregate purchase price of EUR 86 million on a cash-free, debt-free basis. According to the company, the price includes a normalized level of working capital.

How does Tenaris (TS) say the Artrom acquisition will affect its business strategy?

The company says the deal expands its industrial pipe product range and manufacturing footprint in Europe. According to the company, the acquisition strengthens its ability to serve customers in the European industrial segment.