Steel Products Prices North America

Tenaris Buys Benteler Steel & Tube in $460 Million Deal

Written by Laura Miller

July 8, 2022

Luxembourg-based steel tube producer Tenaris SA is set to purchase Benteler Steel & Tube Manufacturing Corp. from Benteler North America Corp. in a deal valued at $460 million.

Benteler Steel & Tube is a seamless pipe producer with production facility in Shreveport, La., that has annual capacity of 400,000 metric tons. 

Tenaris

The acquisition, which is subject to regulatory approvals, will further Tenaris’s manufacturing presence in the US market, the company said in a press release. The transaction is scheduled to be completed in the fourth quarter of 2022.

Prior to this acquisition, Tenaris operated eight manufacturing facilities and four pipe service centers in the US with 2 million tons of production capacity.

In Q1 this year, Tenaris posted net income of $503 million on sales of $2.367 billion. Globally, the company has steel pipe manufacturing capacities of 4.7 million tons of seamless pipe and 3.2 million tons of welded pipe (not including the Benteler acquisition).

By Laura Miller, Laura@SteelMarketUpdate.com

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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