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Tenaris To Acquire Artrom Steel Tubes For EUR 86 Mln

May 09, 2026 — 10:00 am EDT

Written by

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(RTTNews) - Tenaris S.A. (TS) announced that it has signed a definitive agreement to acquire 100% of the share capital of Artrom Steel Tubes S.A. from GLGH Steel, LLC, a U.S.-based company. The agreed purchase price is 86 million euros, structured on a cash-free and debt-free basis, and includes a normalized level of working capital.

The transaction remains subject to customary regulatory approvals, including clearance from the European Union competition authorities and authorization from the Romanian government. Tenaris expects the deal to close 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 Re?i?a, and seamless pipe rolling capacity of up to 200,000 metric tons at its Slatina facility.

TS closed Friday's regular trading at $59.81 up $0.85 or 1.44%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.