Tenaris announced that it has completed the sale of its subsidiary Geneva Structural Tubes LLC to MKK USA, a wholly owned subsidiary of Maruichi Steel Tube Ltd of Japan, on November 1, 2021. The business manufactures and sells square and rectangular welded steel pipe for structural applications from its plant located in Geneva, NE.
The sale transfers 100% ownership of Tenaris’s US structural pipe business for US$ 24.1 million on a cash free, debt free basis, pending final adjustments for working capital variation.
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