Tenaris acquires Mattr’s pipe coating business for over $182 million

(WO) – On Nov. 30, Tenaris S.A. announced that it completed the acquisition of Mattr’s pipe coating business unit for $182.6 million (including estimated working capital and $16.9 million in cash).

The business acquired includes nine plants located in Canada, Mexico, Norway, Indonesia, the UAE and the U.S., and several mobile concrete plants. The business also includes world-class R&D facilities in Canada and Norway and a wide IP/product portfolio.

According to Tenaris’ website, the Mattr acquisition “complements” the company’s “extensive product and services solutions with greater capabilities and specialization in end-to-end concrete weight, anti-corrosion, and flow assurance coating solutions for onshore and offshore pipelines.”

“We are creating an excellent portfolio of high-quality products, innovative services and coating technologies, offering highly efficient and effective solutions to serve customers’ operations,” said Tenaris President for Europe, Michele Della Briotta.