Tenaris completed the acquisition of 47.79% stake in Saudi Steel Pipe.

Tenaris, a global manufacturer and supplier of steel pipes and related services, primarily for the energy industry, completed the acquisition of 47.79% stake in Saudi Steel Pipe, a welded steel pipes producer, for $141m. As a result of the transaction, Tenaris expects to expand its industrial presence in the Kingdom of Saudi Arabia, one of the largest markets for OCTG and line pipe products, and the range of products it supplies to Saudi Aramco.