Tenaris Closes In on US$15 Million Sale of Nebraska Plant
The mill, Geneva Structural Tubes LLC, produces square and rectangular welded steel pipe for structural applications. According to an official press release, the sale is expected to close at the end of the month.
“The sale of our structural pipe unit in Geneva, Neb., despite its excellent performance to date, is in line with our long-term strategy of focusing on our core businesses, serving the domestic market with pipes and innovative services,” Luca Zanotti, president of Tenaris USA, commented.
MKK USA Inc., a subsidiary of Japanese tubemaker Maruichi Steel Tube Ltd., currently operates three steel tube production plants in the U.S.: Maruichi American Corp., Maruichi Leavitt Pipe & Tube LLC and Maruichi Oregon Steel Tube LLC. According to a statement, MKK USA Inc. said that the acquisition of Geneva Structural Tubes will allow the company to establish a stronger foothold in the Midwestern U.S. market.