Mexico. Tenaris announces that it has entered into a definitive agreement to acquire from Mattr 100% of the shares of its subsidiary Bredero Shaw International BV, which owns Mattr's pipe coating business.
The transaction has been carried out for 166 million dollars (including working capital), free of debt, subject to customary price adjustments.
The acquired business includes nine plants located in Canada, Mexico, Norway, Indonesia, the United Arab Emirates and the United States, and several mobile concrete plants.
The business also includes world-class R+D facilities in Toronto and Norway and a broad portfolio of products and intellectual property.
The transaction is subject to regulatory approvals in Mexico and Norway. The closure is expected to be completed in about six months.
Tenaris is a supplier of steel pipes and related services to the global energy industry and other industrial applications.
