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Subject to the usual antitrust and other regulatory approvals, including the consent by the Louisiana Economic Development, the closing of the deal is expected for the last quarter of 2022.

Benteler Steel & Tube Manufacturing Corporation produces seamless steel pipe, with an annual pipe rolling capacity of 400,000 mt, with the production unit located in Shreveport, Louisiana. The acquisition is expected to expand Tenaris’s production range and local manufacturing presence in the US market, the company said.

A global supplier of steel tubes and related services, Tenaris was recently chosen by the Brazilian oil producer Petrobras for the supply of a package of products and services for its Buzios deep-water project, destined to produce 2.0 million barrels of oil per day by 2030.

The volume of the contract exceeds 100,000 mt of seamless and welded casing, in carbon, sour service and high collapse steel grades.