Tenaris Announces U.S. Investment Plan
Tenaris announced an investment plan to expand its U.S. operations. The plan includes the installation of a state-of-the-art seamless pipe mill, heat-treatment and premium threading facilities with an estimated investment of $1.5 billion. The new mill, which is expected to begin operations in 2016, will have an annual production capacity of 650,000 tons of high-quality seamless pipes and will be fully integrated with the rest of Tenaris' U.S. manufacturing and service operations. 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.