GlobeNewswire

Tenaris to acquire significant stake in Saudi Steel Pipe Company

Del

LUXEMBOURG, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN) announced today that it has entered into a definitive agreement to acquire from a private group 47.79% of the shares of Saudi Steel Pipe Company (“SSP”), a welded steel pipes producer listed on the Saudi stock market, for an aggregate price of US$144 million.

The transaction is subject to regulatory approvals, including approval by the Capital Market Authority of Saudi Arabia, and other customary conditions and is expected to close in the first quarter of 2019.

Tenaris has been serving Saudi Arabia’s oil and gas industry and Saudi Aramco for decades. With this transaction, Tenaris will significantly expand its industrial presence in the Kingdom and the range of products it supplies to Saudi Aramco. Since its first industrial investment in 2010, Tenaris has continuously invested to expand its local operations, supporting the industrialization of the country.

SSP’s facilities are located in the Eastern Province of the Kingdom of Saudi Arabia and have a manufacturing capacity of 360,000 tons per year. The company started its operations in 1980 and serves energy, industrial and commercial segments. It is qualified to supply products with major national oil companies in the region, including Saudi Aramco.

SSP operates three production lines, covering an outside diameter range from ½” to 20”, which complements Tenaris’s existing offering in Saudi Arabia. The combined portfolio will provide Saudi Aramco and regional customers with a comprehensive range of products. 

Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements.

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

Giovanni Sardagna        
Tenaris
1-888-300-5432
www.tenaris.com

Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

Family of Constant-Current Dimmable Buck LED Drivers18.12.2018 11:00Pressemelding

1.5A, 3A Buck LED Drivers Target ISO26262 automotive and industrial applications MILPITAS, Calif., Dec. 18, 2018 (GLOBE NEWSWIRE) -- AMS, the Analog Mixed-Signal division of ISSI, has introduced a family of switching buck LED Drivers for automotive and industrial applications. This family of highly integrated switching constant current buck LED Drivers are targeted for 12V/24V battery connected, space-constrained, electromagnetic (EMC) sensitive applications such as Headlight, Front and Rear Fog lights, Day time Running lights to name a few. The device family supports a wide DC voltage input range of 4.5V to 38V and outputs a 5% regulated current of 1.5A or 3A; depending on the particular device, see table. The integrated power MOSFET is configured to switch in the constant on-time mode delivering true average current. Switching at a frequency of up to 2MHz which is adjustable with an external resistor, these buck LED Drivers can use smaller output inductor and capacitor values thereby

John Charman Appointed Chief Executive Officer of Sompo Holdings Overseas Insurance Business and Nigel Frudd Appointed as Chief Executive Officer of Sompo International18.12.2018 10:13Pressemelding

Mr. Charman and Mr. Frudd to Join Sompo Holdings New Global Executive Committee PEMBROKE, Bermuda, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Sompo International Holdings Ltd. (Sompo International), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that effective April 1, 2019, Mr. John Charman, currently Chairman of the Board of Directors and Chief Executive Officer of Sompo International, will be promoted to Chief Executive Officer of Overseas Insurance Business in Sompo Holdings, Inc. (Sompo Holdings). This segment of Sompo Holdings’ business currently represents more than 27% of Sompo Holdings Group’s adjusted profit, employing around 9,000 people in 30 countries and regions and is projected to have more than $10 billion in gross premiums by 2020. In such capacity, Mr. Charman will join the new Global Executive Committee of Sompo Holdings (Global ExCo) which will be established in April 2019 to provide expertise and input on group-wide st

LeddarTech Selects BlackBerry’s QNX Operating System for its Auto and Mobility LiDAR Platform18.12.2018 06:05Pressemelding

The QNX OS for Safety runs the software at the core of LeddarTech’s innovative automotive LiDAR development platform that enables the design of differentiated LiDAR solutions tailored to specific autonomous driving applications. QUEBEC CITY, Dec. 18, 2018 (GLOBE NEWSWIRE) -- LeddarTech , an industry leader providing the most versatile, scalable Auto and Mobility LiDAR Platform, today announced it has selected the QNX OS for Safety as the operating system for its LeddarSP Digital Signal Processing library. The LeddarSP software works in tandem with LeddarCore systems-on-chip to form the LeddarEngine, which is embedded at the heart of a variety of LiDAR sensor designs that enable ADAS and autonomous driving applications. “We believe that there is no safety without security,” said Grant Courville, VP of QNX Product Management and Strategy at BlackBerry. “We are thrilled to provide LeddarTech, an industry leader in LiDAR technology, with the reliable foundation necessary for building compe

Align Technology Reaches 6 Millionth Invisalign® Patient Milestone With Tween Patient From China18.12.2018 02:30Pressemelding

12-year old Yuzhe Wang from Beijing, China is in treatment with Invisalign trained doctor Jiawei Wo using Invisalign Comprehensive with Mandibular Advancement Accelerating adoption of Invisalign clear aligner treatment globally reflects Align’s continued investment in product innovation and commitment to international expansion BEIJING and SAN JOSE, Calif., Dec. 17, 2018 (GLOBE NEWSWIRE) -- Align Technology, Inc. (NASDAQ: ALGN) today announced that over 6 million patients have begun treatment with Invisalign - the most advanced clear aligner system in the world, including 1.4 million teenage patients*. This is a significant milestone for the company and the over 150,000 Invisalign-trained doctors worldwide, reflecting accelerating adoption of Invisalign treatment by adults and teens alike. The 6 millionth Invisalign patient, Yuzhe Wang, is a 12-year-old student of the International School of Beijing, who began treatment in October 2018 using Invisalign Comprehensive with Mandibular Adv

Euronet USA’s Advanced Technology Solution Selected by Banco de Moçambique for Their National Payment Network18.12.2018 00:15Pressemelding

LEAWOOD, Kan., Dec. 17, 2018 (GLOBE NEWSWIRE) -- On Monday, December 10, 2018, Euronet USA, Inc. signed an agreement with Banco de Moçambique to provide a modernized national payment network solution to Mozambique. Under the agreement, Euronet will provide state-of-the-art software for the financial system in Mozambique. Euronet’s superior technology combined with over 40 years of experience in the payments landscape makes them well suited to deliver a robust solution to meet the country’s existing and future requirements. This arrangement recognizes Euronet’s leadership position in the region as this solution will be used to drive all payment processing in the country. “We are extremely honored to grow our strong relationship with the country of Mozambique, by providing advanced and scalable products and services that we deploy successfully around the world,” said Cindy Ashcraft, Vice President of Euronet Worldwide and Managing Director of Euronet Software Solutions, headquartered in

ProQR Announces Publication in Nature Medicine of QR-110 Data for Leber’s Congenital Amaurosis 1017.12.2018 17:52Pressemelding

LEIDEN, Netherlands and CAMBRIDGE, Mass., Dec. 17, 2018 (GLOBE NEWSWIRE) -- ProQR Therapeutics N.V. (Nasdaq:PRQR), a company dedicated to changing lives through the creation of transformative RNA medicines for the treatment of severe genetic rare diseases, today announced the publication of a peer-reviewed manuscript describing the previously announced interim results of a clinical trial of QR-110 for the treatment of Leber’s congenital amaurosis 10 (LCA10) in the journal Nature Medicine. “It was enormously gratifying to see robust improvements in visual acuity and significant augmentations in the patient’s ability to detect lights, and impressive to observe these effects within the first three months following a single injection,” said Professor Artur V. Cideciyan, Ph.D., who was one of the co-investigators at the Scheie Eye Institute of the University of Pennsylvania. “LCA10 is a severe form of childhood blindness and this is a major step forward in the treatment of these previously