Tenaris Acquires Pipe Coatings Business
Global pipe manufacturer Tenaris recently announced the completion of its acquisition of infrastructure technology company Mattr’s pipe coating business unit.
According to a release from the company, the deal to purchase Shawcor for $182.6 million was first announced on Aug. 14 and has since received regulatory approvals in Mexico and Norway.
Tenaris states that this acquisition will bring a total of nine plants in Canada, Mexico, Norway, Indonesia, the UAE and the United States into its company. Additionally, the manufacturer adds that this will bring in multiple mobile concrete plants and research and development facilities in Canada and Norway, as well as a wider product portfolio.
“We are creating an excellent portfolio of high-quality products, innovative services and coating technologies, offering highly efficient and effective solutions to serve customers’ operations,” said Michele Della Briotta, Tenaris' President for Europe, who will reportedly manage the newly formed Coating Profit Center.
The release states that this acquisition will add to the company’s product and services solutions, providing “specialization in end-to-end concrete weight, anti-corrosion and flow assurance coating solutions for onshore and offshore pipelines.”
The release states that Tenaris plans to integrate its new facilities and align operations to the company’s global, industrial standards for quality, health, safety and environment.
Additionally, Tenaris says, that as part of the transition, it will honor all of Shawcor's existing commitments.