Tenaris announced on December 10th 2012 the construction of a new threading facility for OCTG products in the town of Machachi, Ecuador. In its first phase, the investment will have a value of approximately USD 15 million.
This initiative aims to strengthen Tenaris's local presence in Ecuador, which has grown over the past 10 years through a commercial office and service centers. The new facility will encourage the industrial integration of the national market, adding value with high technology products that comply with the quality and safety standards found in all Tenaris facilities around the world.
The facility will finish casing and tubing in a wide range of sizes. Its production will be devoted to serving the Ecuadorian energy industry with state of the art OCTG.
Mr Francisco Torraco sales manager for Ecuador of Tenaris said that "Ecuador is a major player in the energy industry. Given this importance, Tenaris decided to make an investment as the next step in the company's long standing presence in the local market, offering products and services of renowned quality."
The new facility will extend over four hectares. Besides the finishing shop, it will also include a yard with sufficient capacity to provide flexible deliveries to customers operating locally.
The investment will benefit the surrounding community by adding new direct and indirect employment opportunities as well as promoting the socio-economic development of the area.
