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June 27, 2012
 
Tenaris Plans $1.5 Billion Investment in U.S.

Luxembourg-based Tenaris S.A. will expand its U.S. operations to serve the energy industry in the Gulf of Mexico. The $1.5 billion investment is expected to begin operations in 2016 and will be fully integrated with the rest of the company’s U.S. manufacturing and service operations.

The company has not announced the location of the proposed mill.

The plan includes the installation of a seamless pipe mill, heat treatment and premium threading facilities. The new mill will have an annual production capacity of 650,000 tons of seamless pipes.

U.S. market demand for high-quality OCTG and line pipe products is growing rapidly due to the development of unconventional shale reserves and the resumption of deepwater drilling activity in the Gulf of Mexico. The new investment plan will strengthen the company’s local production and service capabilities, allowing it to reduce lead times and serve its U.S. customers with a full range of locally manufactured seamless, welded and premium products, in a market where imported products account for over half of total consumption, say Tenaris officials.


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Sunday, May 19, 2013