Posted on 16 Apr 2020
Luxembourg-based Tenaris announced its decision to expand shutdown of its U.S. facilities, on account of market demand slowdown due to COVID-19 related impacts. The facility will continue to remain closed until notable improvement in market conditions.
In the latest announcement, the company said that it would temporarily suspend operations at the Baytown pipe mill facility. It must be noted that the company had decided to lay off nearly 225 workers at the plant a few weeks back, as part of restructuring of its U.S. steel manufacturing operations. The company press release states that it intends to cut jobs and adjust production levels at its other U.S. plants.
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Earlier in March, Tenaris had announced idling of electric arc furnace (EAF) billet mill in Koppel, Pennsylvania, and seamless pipe mill in Ambridge, Pennsylvania. Furthermore, it had announced shutdown of its threading plant in Brookfield, Ohio and employee cuts at its welded pipe plant in Hickman, Arkansas. It had already idled the welded pipe mill in Blytheville, Arkansas in January this year.
The company, which primarily manufactures steel pipes for oil and gas industry, blamed unprecedented drop in oil and natural gas prices and operational restrictions on account of the pandemic for the temporary production cuts.
Source:Scrap Monster
