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SeAH Steel to acquire two steel pipe plants in Texas-- The 18th China(Guangzhou) Int’l Plate metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
11/22/2016 plate metal expo-wire expo |
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Business Korea reported that as part of its preemptive move to deal with rising global trade protectionism, SeAH Steel is seeking to acquire the assets of oil country steel tube post-treatment plants in the United States.
According to steel industry sources on November 17, SeAH Steel has decided to take over the assets of oil country steel tube post-treatment plants in Houston, which are owned by Laguna Tubular Products headquartered in Mexico, and is in a final round of talks. Laguna’s Houston plant has the post-treatment facilities to produce steel pipes, including heat treatment and water pressure tests. SeAH Steel is also trying to acquire a Houston plant run by Russia-based OMK Tube Inc.
At OMK Tube’s Houston plant, there are facilities for both production and post-treatment of steel pipes. The takeover price of the two Houston plants is estimated at around US$100 million (118.05 billion won).
Industry analysts interpreted SeAH''s latest move as an effort to get around the U.S.’ anti-dumping duties imposed on imported steel products. The U.S. government made a preliminary determination on imposing an anti-dumping duty of 3.8 percent on Korean-made steel oil country steel tubes in October. It will make a final determination early next year but the anti-dumping duty can increased as President-elect Donald Trump, who has pledged to tighten import regulations in order to protect American industry, takes office in January.
-- The 18th China(Guangzhou) Int’l Plate
metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
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