Tenaris S.A. has signed an agreement for USD 166 million to acquire 100 percent shares of Bredero Shaw International BV, a subsidiary of Mattr, holding pipe coating business. The transaction is expected to be completed in approximately six months.

Aug 14, 2023

Tenaris S.A. announced that it has signed an agreement to acquire 100% of the shares of its subsidiary Bredero Shaw International BV from Mattr, which holds Mattr’s pipe coating business, for USD 166 million (including working capital), on a cash-free, debt-free basis, subject to customary price adjustments. The business being acquired includes nine plants located in Canada, Mexico, Norway, Indonesia, the UAE, and the US, and several mobile concrete plants. The business also includes world-class R&D facilities in Toronto and Norway and a wide IP/product portfolio. The transaction is subject to regulatory approvals in Mexico and Norway and closing is expected to be completed within approximately six months.