ExxonMobil names Tenaris its 2024 Supplier of the YearHOUSTON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- ExxonMobil has named Tenaris its 2024 Supplier of the Year, recognizing the company’s performance, competitiveness and high standards as consistent with ExxonMobil’s values and expectations.
Mattr Finalizes Pipe Coating Business SaleTORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd., dba Mattr Infratech (“Mattr” or the “Company”) (TSX: MATR) announced today that it has completed the previously-announced sale of its pipe coating business (“Pipeline Performance Group” or “PPG”) to Tenaris S.A. (“Tenaris”) (NYSE and Mexico: TS and EXM Italy: TEN). The Company has received total proceeds of US$182.6 million, including estimated working capital and US$16.9 million in cash, for effective proceeds of US$165.7 million (or approximately CDN$225 million).
Mattr Announces Regulatory Approval and Expected Closing Date for Pipe Coating Business SaleTORONTO, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd., dba Mattr Infratech (“Mattr” or the “Company”) (TSX: MATR) announced today that Norwegian and Mexican antitrust approvals have been issued for the sale of the majority of its pipe coating business (“Pipeline Performance Group” or “PPG”) to Tenaris S.A. (“Tenaris”) (NYSE and Mexico: TS and EXM Italy: TEN) announced through the Company’s press release dated August 14, 2023. Accordingly, all required regulatory approvals for the transaction have been obtained. The transaction is now expected to close in the next two weeks, subject to customary closing conditions. Upon closing, the Company expects to receive the agreed-upon purchase price of $166 million USD, or approximately $230 million CAD at current exchange rates, on a cash-free, debt-free basis, subject to normal working capital adjustments. Consistent with previously shared estimates, the aggregate net cash proceeds to be received by the Company in relation to this transaction are still expected to be modestly higher than the agreed purchase price.
Mattr Signs Definitive Agreement to Sell a Substantial Part of Its Pipeline and Pipe Services Segment to Tenaris for Approximately $220 Million CADTORONTO, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd., dba Mattr Infratech (“Mattr” or the “Company”) (TSX: MATR) announced today that it has entered into a definitive agreement to sell a substantial part of its pipe coating division (“Pipeline Performance Group” or “PPG”) to Tenaris S.A. (“Tenaris”) (NYSE and Mexico: TS and EXM Italy: TEN), including its wholly owned operations in Canada, the US, Mexico, Norway, the UAE and Indonesia, several mobile concrete coating plants, its joint-venture interest in Azerbaijan, its world-class research and development capabilities in Toronto and Norway, and a broad portfolio of intellectual property.
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Glancy Prongay & Murray LLP Obtains Important Ruling for Tenaris S.A. Investors in Securities Fraud Class Action
Glancy Prongay & Murray LLP (“GPM”) announces that on July 1, 2021, the Honorable Raymond J. Dearie of the United States District Court for the Eastern District of New York issued a ruling denying the defendants’ request that the court reconsider an earlier order denying the defendants’ motion to dismiss the action (In Re Tenaris S.A. Securities Litigation, Case No. 18-cv-7059-RJD-SJB). GPM serves as the court-appointed Lead Counsel for a putative class of investors that purchased ADS of Tenaris S.A. (“Tenaris” or the “Company”) (
NYSETS) between May 1, 2014 and December 5, 2018, inclusive. The action seeks to recover losses suffered by Tenaris investors arising from the defendants’ alleged violations of the federal securities laws.
