Tenaris, a global manufacturer of steel pipes and related services, has made a significant move with its recent acquisition of the oil and gas division of isOplus. The deal, valued at $10 million, grants Tenaris ownership of isOplus's pre-insulated pipeline systems for district heating and anti-corrosion coatings in Europe.
Following the acquisition, the business unit has been rebranded as Tenaris Coating Italy, specializing in providing anti-corrosion coatings specifically designed for oil and gas pipelines.
According to Andrea Previtali, Vice President Line Pipe and Process at Tenaris and President of the newly formed company, the strategic investment bolsters Tenaris's offerings in the offshore market.
This approach will help Tenaris reduce delivery times, ensure high and consistent quality standards, minimize logistical costs, and decrease environmental footprint. The anti-corrosion coating can now be applied to line pipes at Tenaris's facilities in Italy, Mexico, Argentina, and Brazil.