TS Tenaris S.A. ADS

Tenaris Completes Acquisition of Pipe Coating Business Unit of Mattr

Tenaris Completes Acquisition of Pipe Coating Business Unit of Mattr

LUXEMBOURG, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) announced that it has completed today the acquisition from Mattr (MATR.TO) of Mattr’s pipe coating business unit for US$182.6 million (including estimated working capital and US$16.9 million in cash).

The business acquired includes nine plants located in Canada, Mexico, Norway, Indonesia, the UAE and the US, and several mobile concrete plants. The business also includes world-class R&D facilities in Canada and Norway and a wide IP/product portfolio.

Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.

Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.

Giovanni Sardagna        

Tenaris

1-888-300-5432



EN
30/11/2023

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Shareholders approve all resolutions on the agendas of Tenaris’s Annua...

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May 1, 2024 1 EN
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Accionistas aprueban todas las resoluciones del orden del día de la As...

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May 1, 2024 1 EN
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Completion of Second Tranche of Tenaris Share Buyback Program. Weekly ...

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April 30, 2024 1 EN
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Finalización del Segundo Tramo del Programa de Recompra de Acciones de...

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April 30, 2024 1 EN
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Tenaris Announces 2024 First Quarter Results

Tenaris Announces 2024 First Quarter Results The financial and operational information contained in this press release is based on unaudited consolidated condensed interim financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union, or IFRS. Additionally, this press release includes non-IFRS alternative performance measures i.e., EBITDA, Net cash / debt, Free Cash Flow and Operating working capital days. See exhibit I for more details on t...

April 25, 2024 1 EN

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