“Completing this acquisition marks an important step in strengthening our U.S. domestic manufacturing capabilities,” said Guillermo Moreno, president of Tenaris.

The company said the 39-acre scrap yard is next to its Koppel manufacturing facility, allowing for easier coordination between scrap processing and steel production. They now have direct access to raw materials which will be used to make liquid steel with an electric arc furnace at the Koppel facility. 

“By securing direct access to high quality scrap, Tenaris boosts efficiency, optimizes steel quality from start to finish, and delivers on its commitment to producing high-performance steel solutions for our energy customers,” continued Moreno.