30.11.2023 23:06:30 - dpa-AFX: GNW-Adhoc: Tenaris Completes Acquisition of Pipe Coating Business Unit of Mattr
LUXEMBOURG, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS
and EXM Italy: TEN) announced that it has completed today the acquisition from
Mattr (MATR.TO) of Mattr's pipe coating business unit for US$182.6 million
(including estimated working capital and US$16.9 million in cash).
The business acquired includes nine plants located in Canada, Mexico, Norway,
Indonesia, the UAE and the US, and several mobile concrete plants. The business
also includes world-class R&D facilities in Canada and Norway and a wide
IP/product portfolio.
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
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