Tenaris Agrees to Buy Artrom Steel Tubes for $101M

Dow Jones

May 09

By Elias Schisgall

Tenaris agreed to acquire Artrom Steel Tubes from U.S.-based GLGH Steel for 86 million euros, or about $101.4 million.

Tenaris, itself a steel tube supplier, said the addition of Romania-based Artrom would expand its industrial pipe product range and manufacturing footprint, especially in Europe.

The company agreed to acquire 100% of Artrom's share capital on a cash-free and debt-free basis, it said Friday.

The deal is expected to close in the fourth quarter, and is subject to customary regulatory conditions including clearance from the European Union competition authorities and the Romanian government.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 08, 2026 18:38 ET (22:38 GMT)

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