Tenaris S.A. entered into a definitive agreement to acquire 100% of the shares of Benteler Steel & Tube Manufacturing Corp. for $460 million. Benteler Steel & Tube is a U.S. producer of seamless steel pipe, with an annual pipe rolling capacity of up to 400,000 metric tons at its production facility in Shreveport, La. The acquisition would further expand Tenaris’ production range and manufacturing presence in the U.S. market. Closing is expected to occur during the fourth quarter of 2022.

Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.