March 15, 2021

Tenaris and Severstal provide update on the status of their welded pipe plant in West Siberia

With reference to their joint venture announced in February 2019, Tenaris and Severstal inform that, although they continue to have a strong interest in the venture, they have agreed to put on hold the construction activities on their welded pipe plant in Surgut, West Siberia, while they assess the impact of the changes in the relevant markets and competitive environment and determine whether any adjustments or changes to the project could be necessary.