Tenaris to buy Artrom Steel Tubes for EUR 86M

Tenaris S.A. reported that it has signed a definitive agreement to acquire 100% of the share capital of Artrom Steel Tubes S.A. from GLGH Steel, LLC for EUR 86 million on a cash-free, debt-free basis, including normalized working capital.

Rhea-AI Filing Summary

Tenaris S.A. reported that it has signed a definitive agreement to acquire 100% of the share capital of Artrom Steel Tubes S.A. from GLGH Steel, LLC for EUR 86 million on a cash-free, debt-free basis, including normalized working capital. Artrom operates a steelmaking facility in Reșița with annual capacity of about 450,000 metric tons and a seamless pipe rolling facility in Slatina with capacity of up to 200,000 metric tons. The deal is subject to clearance by European Union competition authorities and Romanian government approvals, with closing expected in the fourth quarter of 2026. Tenaris expects the acquisition to broaden its industrial pipe product range and manufacturing footprint, enhancing its service to European industrial customers.

Insights

Industrial M&A and steel sector analyst

Tenaris plans a EUR 86M Romanian pipe acquisition to deepen its European industrial footprint.

Tenaris has agreed to buy Artrom Steel Tubes S.A. for EUR 86 million on a cash-free, debt-free basis, including normalized working capital. Artrom brings steelmaking capacity of about 450,000 metric tons in Reșița and seamless pipe rolling capacity up to 200,000 metric tons in Slatina.

The company states that the acquisition is expected to expand its industrial pipe product range and manufacturing footprint, strengthening service to European industrial customers. Strategically, this adds local production in the European Union, which can be relevant for logistics, trade policy and regional customer needs.

The transaction still depends on approvals from European Union competition authorities and Romanian government bodies, with closing targeted for Q4 2026. Until approvals are obtained and integration progresses, actual benefits remain uncertain, and future disclosures may provide more detail on financial contribution and integration costs.

Key Figures

Purchase price: EUR 86 million Steelmaking capacity: 450,000 metric tons Seamless pipe capacity: 200,000 metric tons +2 more

5 metrics

Purchase price EUR 86 million Aggregate price for 100% of Artrom Steel Tubes share capital

Steelmaking capacity 450,000 metric tons Annual capacity at Artrom’s Reșița facility

Seamless pipe capacity 200,000 metric tons Annual rolling capacity at Artrom’s Slatina facility

Expected closing period Q4 2026 Targeted closing timeframe subject to approvals

Deal structure Cash-free, debt-free Transaction basis including normalized working capital

Key Terms

definitive agreement, cash-free and debt-free basis, normalized level of working capital, European Union competition authorities, +1 more

5 terms

definitive agreement financial

"announced today that it has entered into a definitive agreement to acquire"

A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.

cash-free and debt-free basis financial

"for an aggregate purchase price of EUR 86 million, on a cash-free and debt-free basis"

A transaction priced on a cash-free and debt-free basis means the buyer pays for the core business only, with the seller expected to leave behind cash and pay off or remove debt before closing; the purchase price is adjusted so the company transfers without excess cash or outstanding borrowings. This matters to investors because it separates operating value from financing items, making deal prices easier to compare—like buying a house but excluding the seller’s bank account and mortgage balance.

normalized level of working capital financial

"cash-free and debt-free basis, including a normalized level of working capital"

European Union competition authorities regulatory

"subject to customary regulatory conditions, including clearance from the European Union competition authorities"

forward-looking statements regulatory

"Some of the statements contained in this press release are “forward-looking statements”."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

FAQ

What acquisition did Tenaris (TS) announce in this Form 6-K?

Tenaris announced a definitive agreement to acquire 100% of Artrom Steel Tubes S.A. from GLGH Steel, LLC. The deal focuses on Artrom’s Romanian steel and seamless pipe operations, expanding Tenaris’s presence in European industrial pipe markets.

What is the purchase price for Tenaris’s acquisition of Artrom Steel Tubes S.A.?

The agreed purchase price is EUR 86 million on a cash-free, debt-free basis. This amount includes a normalized level of working capital, meaning Artrom is transferred with typical operating liquidity but without excess cash or debt obligations.

What production capacities does Artrom Steel Tubes S.A. add to Tenaris (TS)?

Artrom brings annual steelmaking capacity of about 450,000 metric tons at Reșița and seamless pipe rolling capacity of up to 200,000 metric tons at Slatina. These facilities enhance Tenaris’s ability to supply steel and seamless pipe products in Europe.

When is Tenaris’s acquisition of Artrom expected to close?

Closing is expected to occur during the fourth quarter of 2026. Completion depends on customary regulatory conditions, including clearance from European Union competition authorities and approvals from Romanian government agencies involved in such transactions.

What strategic benefits does Tenaris expect from acquiring Artrom Steel Tubes S.A.?

Tenaris expects the acquisition to expand its industrial pipe product range and manufacturing footprint. By adding Romanian steel and pipe facilities, the company aims to strengthen its capacity to serve customers in the European industrial segment more effectively.

What regulatory approvals are required for Tenaris’s Artrom acquisition?

The transaction is subject to customary regulatory conditions. These include clearance from European Union competition authorities and required approvals from Romanian government bodies, which must be obtained before the acquisition can be completed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/08/2026 - 07:37 PM Learn about SEC filing dates

FORM 6 - K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a - 16 or 15d - 16 of

the Securities Exchange Act of 1934

As of May 8, 2026

TENARIS, S.A.

(Translation of Registrant's name into English)

26, Boulevard Royal, 4th floor

L-2449 Luxembourg

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F.

Form 20-F  ✓   Form 40-F      

The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains the Press Release announcing Tenaris to Acquire Artrom Steel Tubes S.A. seamless pipe manufacturing plant in Romania.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 8, 2026

Tenaris, S.A.

By: /s/ Giovanni Sardagna

Giovanni Sardagna

Investor Relations Officer

Giovanni Sardagna

Tenaris

1-888-300-5432

www.tenaris.com

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

Luxembourg, May 8, 2026. – 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.