trending Market Intelligence /marketintelligence/en/news-insights/trending/RuAqga63IWNBftFz6dKi_w2 content esgSubNav
In This List

Tenaris to acquire US-based IPSCO Tubulars for $1.2B

Blog

Over 150 state-level energy-related measures enacted during Q2'21

Blog

Insight Weekly: Earnings learnings; Duke Energy hits back; PE activity surges

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals


Tenaris to acquire US-based IPSCO Tubulars for $1.2B

Luxembourg's Tenaris SA announced March 22 it will acquire PAO TMK's Texas-based IPSCO Tubulars Inc. for $1.2 billion.

In separate statements, the two firms said the transaction is still subject to conditions of the stock purchase agreement and approvals from U.S. antitrust authorities.

Tenaris said the deal covers a U.S. steel bar production facility in Koppel, Pa., a seamless production facility in Ambridge, Pa., and other welded, heat treatment and finishing facilities.

IPSCO Tubulars is a U.S. producer of seamless and welded oil country tubular goods and line products, with an annual production of 450,000 metric tons of steel bars, 400,000 metric tons of seamless pipe and 1 million metric tons of welded pipe and production facilities.