On October 13, 2021, Tenaris entered into a definitive agreement with MKK USA Inc., a subsidiary of Japanese steelmaker Maruichi Steel Tube Ltd, for the sale of Tenaris’s 100% ownership interest in Geneva Structural Tubes LLC (“Geneva LLC”). The transaction was consummated on November 1, 2021, for an aggregate price of USD 24.1 million, subject to post-closing true-up adjustment based on Geneva LLC’s closing date accounts.

Geneva LLC manufactures and sells square and rectangular welded steel pipe for structural applications from its plant located in Geneva, Nebraska.