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Tenaris

Manufacturer of steel pipes

Summary

Manufacturer of steel pipes

Field	Value
name	Tenaris S.A.
logo	Tenaris.svg
logo_size	200px
type	Sociedad Anónima
traded_as
industry	Oilfield services
founded
location_city	Luxembourg City
location_country	Luxembourg
area_served	Worldwide
key_people	Paolo Rocca (Chairman and CEO)
products	Steel pipes
revenue	(2023)
operating_income	US$4.3 billion (2023)
net_income	US$3.918 billion (2023)
assets	US$21.081 billion (2023)
equity	US$16.842 billion (2023)
num_employees	29,134 (2023)
owner	Techint (60.45%)
homepage
footnotes

Tenaris S.A., organized in Luxembourg, is a manufacturer and supplier of steel pipes and related services for the petroleum industry. The company produces and ships over 4 million tons of pipes annually. In 2023, 53% of the company's sales were to North America, 22% of sales were to South America, 18% of sales were to the Asia-Pacific, and 7% of sales were to Europe.

The company owns 11.46% of Ternium, 3.96% of the share capital of Usiminas, and 22% of Techgen.

The company is 60.45% owned by Techint, which is controlled by San Faustin S.A., which is in turn controlled by Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin, a Stichting, while 38.41% of the company is publicly traded.

History

Tenaris traces its roots to the formation of Siderca, the sole Argentine producer of seamless steel pipe products by the predecessor of San Faustin in 1948. Tenaris was organized on December 17, 2001.

In June 2006, the company acquired Maverick Tube for $3.185 billion.

In September 2006, it sold 75% of Dalmine, its Italian energy supply business, to E.ON for €39 million.

In 2007, the company acquired Hydril for $2.16 billion. The pressure control business was sold to GE Oil and Gas in April 2008.

In January 2020, the company acquired IPSCO Tubulars from OAO TMK for $1.2 billion.

Controversies

Bribery settlement

In May 2011, Tenaris agreed to pay the United States Department of Justice US$8.9 million in the first ever deferred prosecution agreement with the U.S. Securities and Exchange Commission, after Tenaris voluntarily disclosed details of bribes made to officials of an Uzbek state-controlled oil firm to obtain competitor's bid information, which it used to submit revised bids in order to secure tenders.

Violence at TenarisTamsa facility

On several occasions, melees broke out at the TenarisTamsa facility in Veracruz, Mexico, over a dispute for union leadership between Pascual Lagunes Ochoa and José Carlos Guevara Malpica ("El Profe"), a convicted felon. These melees have resulted in injuries and deaths.

References

(May 28, 2024). "Tenaris S.A. 2023 Form 20-F Annual Report". [[U.S. Securities and Exchange Commission]].
(June 14, 2006). "Tenaris to Acquire Maverick Tube". [[Association for Iron and Steel Technology]].
(September 13, 2006). "(BW) Tenaris to Sell Participation in Dalmine Energie to E.ON". [[Business Wire]].
Driver, Anna. (August 9, 2007). "Tenaris to buy Hydril for $2.16 bln cash". [[Reuters]].
Nelson, Valerie J.. (14 June 2007). "Richard C. Seaver, 85; oil-drilling exec, donor to L.A. Opera". [[Los Angeles Times]].
(January 28, 2008). "Tenaris to sell Hydril pressure business to GE". [[Reuters]].
(January 3, 2020). "Tenaris Completes Acquisition of IPSCO Tubulars". [[Association for Iron and Steel Technology]].
(17 May 2011). "Tenaris to Pay $5.4 Million in SEC's First-Ever Deferred Prosecution Agreement". [[U.S. Securities and Exchange Commission]].
Rubenfeld, Samuel. (17 May 2011). "Tenaris SA Pays $8.9 Million To Settle FCPA Probe". [[The Wall Street Journal]].
(17 May 2011). "Tenaris settles U.S. Bribery probe". [[Reuters]].
(March 24, 2017). "Mundo Obrero. Enfrentamiento por el sindicato de TAMSA deja dos muertos". [[La Izquierda Diario]].
Zamudio, Isabel. (9 December 2018). "Dan prisión domiciliaria a líder sindical de Tenaris-Tamsa". [[Milenio]].

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

companies-based-in-luxembourg-city companies-established-in-2001 companies-in-the-ftse-mib companies-listed-on-the-mexican-stock-exchange companies-listed-on-the-new-york-stock-exchange manufacturing-companies-of-luxembourg multinational-companies techint

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