Tenaris announced Wednesday an agreement to purchase, subject to regulatory approval, the remaining 50 percent interest in Socotherm Brasil from Socotherm Americas, a division of ShawCor.
Socotherm Brasil operates a pipe coating facility managed by Tenaris, which is located near the Confab welded pipe mill in Pindamonhangaba, Brazil. The company to date has been a 50-50 joint venture between Tenaris and Socotherm Americas.
"The integration of this coating company with our operations will enable Tenaris to better serve our customers, offering a complete pipe and coating solution mainly for the Oil and Gas industry worldwide," said Renato Catallini, President of Tenaris in Brazil.
Source:
http://www.steelorbis.com/steel-news/latest-news/tenaris-announces-purchase-of-brazilian-joint-venture-interest-799572.htm
