Tenaris Buys Romania's Artrom Steel Tubes for €86 Million, Bolstering European Operations

Tenaris, a powerhouse in the global energy industry's steel pipe sector, continues its strategic expansion with the acquisition of Romania's Artrom Steel Tubes for €86 million. This significant move, announced by the Techint Group, signals a clear intent to bolster its industrial footprint across Europe.

The deal, pending regulatory approvals from the European Union and Romania, is expected to be finalized in the fourth quarter of 2026. Artrom Steel Tubes brings substantial production capacity, with approximately 450,000 metric tons of steel annually and up to 200,000 metric tons of seamless steel tubes. This acquisition is poised to enhance Tenaris's capabilities and market reach within the European industrial landscape.

This expansion occurs amidst a notable leadership change at Tenaris. Gabriel Podskubka has been appointed the new CEO, succeeding Paolo Rocca after more than two decades at the helm. While Rocca steps down from the CEO role, he will continue to exert strategic influence as the Group Chairman of Techint and Chairman of Tenaris, ensuring continuity and leveraging his extensive experience.

Beyond Europe, Tenaris is also eyeing growth opportunities in Latin America, particularly in Venezuela. Despite past challenges, including asset expropriation in 2008, the company sees potential for significant business expansion if oil licenses are broadened. This dual focus on European industrial markets and potential resurgence in Latin America underscores Tenaris's dynamic global strategy. Locally, in Argentina, the company remains a key player in the Vaca Muerta infrastructure projects, supplying essential pipelines.

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Our position is unique because we operated the only seamless pipe plant until it was expropriated by Chávez in 2008. At that time, we were the main supplier to the Venezuelan oil industry. We retained human resources with local experience and knowledge of operational complexity and demand. Although a lot of time has passed, we still have a competitive and differentiated position.