EU Commission clears Tenaris takeover of Romanian steel tube maker Artrom

The European Commission announced on Tuesday that it has approved the single-buyer takeover of Artrom Steel Tubes S.A. by Tenaris S.A., citing compliance with EU concentration regulations. The assessment found that existing competitors are likely to continue serving the markets where the parties operate, eliminating antitrust worries. The transaction, centered on the production of seamless steel tubes for industrial use, was initially reported in May when Silcotub S.A. said it would purchase Artrom, pending regulator sign-off.

Silcotub, Romania's top producer of small-diameter seamless pipes, has been a Tenaris subsidiary since 2004, linking it to the global leader in tubular products for energy, automotive, oil and gas sectors. Tenaris' operations in Romania span nine cities, covering everything from scrap collection in Popeşti-Leordeni, Braşov and Iernut to steelmaking in Călăraşi and high-value tube fabrication in Zalău, plus a pump-jack factory in Câmpina and a service centre in Ploieşti. The approval removes the final regulatory hurdle for the deal to be completed.