Tenaris acquires IPSCO Tubulars

Tenaris S.A., a supplier of steel tubes and related services, has completed its acquisition of IPSCO Tubulars Inc. from PAO TMK. The parties have entered into a six-year master distribution agreement whereby Tenaris is the exclusive distributor of TMK’s OCTG and line pipe products in the U.S. and Canada.

Tenaris’ existing U.S. industrial and service network, located primarily in the South, is complemented by IPSCO’s facilities located mainly in the Midwest and Northeast. IPSCO’s steel shop in Koppel, Pa., is Tenaris’ first in the U.S., providing vertical integration through domestic production of a relevant part of its steel bar needs. Its Ambridge, Pa., mill adds a second seamless manufacturing facility and complements Tenaris’ seamless plant in Bay City, Texas.