Tenaris has announced that it has entered into a definitive agreement with MKK USA Inc., for the sale of its structural pipe business in the United States via the transfer of 100% ownership of its wholly-owned subsidiary Geneva Structural Tubes LLC, for USD 15M on a cash free, debt free basis, adjusted for working capital variation at closing.
The business manufactures and sells square and rectangular welded steel pipe for structural applications from its plant located in Geneva, NE. The transaction is expected to close by October 31, 2021.
