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Wednesday May 4, 5:06 pm ET
LUXEMBOURG--(BUSINESS WIRE)--May 4, 2005--Tenaris S.A. (NYSE:TS - News; BCBA:TS) (BMV:TS) (BI:TEN) announced today that it has completed the acquisition of a 97% shareholding in Donasid S.A, a Romanian steel producer, for EUR 37 million (approx. US$48 million). Tenaris is also assuming EUR 16.8 million (approximately US$22 million) in long-term debt held by Donasid with AVAS, the Romanian state privatization agency and expects to spend an additional EUR 25 million (approx. US$32 million) in investments to adapt the steel shop to produce round steel bars and other improvements.
Donasid's assets include a steel shop located at Calarasi on the river Danube in the south of Romania. The steel shop, which has an annual capacity of 470,000 tons, includes an electric arc furnace and continuous casting facilities, and uses steel scrap as its principal raw material. Romania is currently a net exporter of steel scrap.
Through this acquisition, Tenaris expects to reduce costs in, and secure a reliable source of steel for, Silcotub, its Romanian seamless pipe mill, and to increase the competitiveness of its Italian seamless pipe operations by substituting marginal steel production and allowing increased specialization in high value steels.
Tenaris is a leading global manufacturer of seamless steel pipe products and provider of pipe handling, stocking and distribution services to the oil and gas, energy and mechanical industries and a leading regional supplier of welded steel pipes for gas pipelines in South America. Domiciled in Luxembourg, it has pipe manufacturing facilities in Argentina, Brazil, Canada, Italy, Japan, Mexico, Romania and Venezuela and a network of customer service centers present in over 20 countries worldwide.
LUXEMBOURG--(BUSINESS WIRE)--May 4, 2005--Tenaris S.A. (NYSE:TS - News; BCBA:TS) (BMV:TS) (BI:TEN) announced today that it has completed the acquisition of a 97% shareholding in Donasid S.A, a Romanian steel producer, for EUR 37 million (approx. US$48 million). Tenaris is also assuming EUR 16.8 million (approximately US$22 million) in long-term debt held by Donasid with AVAS, the Romanian state privatization agency and expects to spend an additional EUR 25 million (approx. US$32 million) in investments to adapt the steel shop to produce round steel bars and other improvements.
Donasid's assets include a steel shop located at Calarasi on the river Danube in the south of Romania. The steel shop, which has an annual capacity of 470,000 tons, includes an electric arc furnace and continuous casting facilities, and uses steel scrap as its principal raw material. Romania is currently a net exporter of steel scrap.
Through this acquisition, Tenaris expects to reduce costs in, and secure a reliable source of steel for, Silcotub, its Romanian seamless pipe mill, and to increase the competitiveness of its Italian seamless pipe operations by substituting marginal steel production and allowing increased specialization in high value steels.
Tenaris is a leading global manufacturer of seamless steel pipe products and provider of pipe handling, stocking and distribution services to the oil and gas, energy and mechanical industries and a leading regional supplier of welded steel pipes for gas pipelines in South America. Domiciled in Luxembourg, it has pipe manufacturing facilities in Argentina, Brazil, Canada, Italy, Japan, Mexico, Romania and Venezuela and a network of customer service centers present in over 20 countries worldwide.
...portati a casa 525euro... :smile: 
