Steel News

Justice Department OKs IPSCO Acquisition

12/23/2019 - The U.S. Department of Justice has cleared Tenaris’ planned acquisition of PAO TMK’s North American unit, IPSCO Tubulars Inc.

In a statement, Tenaris said that with the approval in hand, it expects to finalize the acquisition soon. Tenaris announced the US$1.21 billion deal last spring.

IPSCO Tubulars produces both seamless and welded oil country tubular goods and line pipe. It has an annual production capacity of 450,000 metric tons of steel bars, 400,000 metric tons of seamless pipe and 1 million metric tons of welded pipe.