Tenaris S.A. has announced a significant development, with plans to acquire 100% shares in Bredero Shaw International BV from Mattr, which holds Mattr’s pipe coating business, for a total of US$166 million. The acquisition will be conducted on a cash-free and debt-free basis, subject to customary price adjustments.

The acquired business includes nine plants located in Canada, Mexico, Norway, Indonesia, the UAE, and the US, as well as several mobile concrete plants. Additionally, the acquisition also includes world-class research and development facilities in Toronto and Norway and a wide intellectual property and products.

The completion of this transaction is subject to regulatory approvals in Mexico and Norway. It was anticipated that the process will be finalized within approximately six months.