Tenaris expands European footprint with planned acquisition of Artrom Steel Tubes

Tenaris has announced that it has entered into a definitive agreement to acquire 100 percent of the share capital of Romanian seamless pipe manufacturer Artrom Steel Tubes S.A. from U.S.-based GLGH Steel, LLC.

The transaction has an aggregate purchase price of €86 million on a cash-free and debt-free basis, including a normalized level of working capital. Completion of the deal remains subject to customary regulatory approvals, including clearance from European Union competition authorities and the Romanian government. Closing is expected during the fourth quarter of 2026.

Artrom Steel Tubes operates steelmaking facilities in Reșița with an annual production capacity of around 450,000 metric tons, while its seamless pipe rolling operations in Slatina can produce up to 200,000 metric tons annually.

According to Tenaris, the acquisition will broaden its industrial pipe product range and further strengthen its manufacturing footprint in Europe. The company expects the move to enhance its ability to serve customers in the European industrial segment with a wider portfolio of seamless pipe solutions.

Tenaris also noted that forward-looking statements regarding the acquisition remain subject to market uncertainties, including developments in global oil and gas markets and related investment activity