Techint buys a tube factory in the United States for US$ 460 million

The plant is in Louisiana and was inaugurated two years ago.

while in Argentina agreed to supply pipes for the gas pipeline that will allow the gas to be removed from Dead cowTenaris, the group’s tube producer Techinttook another step in that business in USA. Purchased a tube plant from the Benteler group Steel & Tube Manufacturing en Louisiana, for US$460 million.

According to the company, the agreement will expand its range of production and productive presence in the US market, where already had several production centers.

Benteler produce seamless steel tubes, with an annual tube rolling capacity of up to 400,000 metric tons. The acquisition It will include US$52 million of working capital.

the american firm had commissioned the plant, located in the town of Shreveport, in 2020. It is one of the most modern steel pipe mills in North America. The sale will strengthen its financial situation, he assured.

The closing is expected to occur during the fourth quarter of this yearafter receiving the approval of the regulatory bodies of the United States.

Jefferies analysts upgraded Tenaris shares to “buy” on Thursday. The company’s papers rose 8.8% on Thursday, like other manufacturers linked to metals and natural resources.

Tenaris is a giant that billed US$ 6.5 billion in 2021 and employs 23,000 people. Its plants have a production capacity of 7.3 million tons of seamless and seamless tubes.

Among its main subsidiaries are, in addition to the Tenaris plant in Campana, Tamsa (Mexico), Dalmine (Italy), Bay City (USA), AlgomaTubes (Canada), Silcotub (Romania), NKKTubes (Japan) and Confab ( Brazil).

Pipes for the gas pipeline

Last month, after a controversy that included accusations of Vice President Cristina Kirchner y an investigation in court what ended up dismissed, Tenaris signed with the Government, through Energía Argentina, the contract for the supply of welded tubes for the President Néstor Kirchner gas pipeline.

The project will allow the plant that the company has in Valentín Alsina, which was inactive, get back on track to produce welded pipes.

After three years of very low activity with a staff of 100 people, the company will need to hire more than 300 new employees. In addition, the plant will begin to work in three shifts and will record record levels not seen since YPF’s Loma La Lata project in 1986.


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