Tenaris

Last updated

Tenaris S.A.
Company type Sociedad Anónima
Industry Oilfield services
Founded17 December 2001;23 years ago (2001-12-17)
Headquarters
Luxembourg City
,
Luxembourg
Area served
Worldwide
Key people
 Paolo Rocca (Chairman and CEO)
Products Steel pipes
RevenueIncrease2.svg US$14.868 billion (2023)
Increase2.svg US$4.3 billion (2023)
Increase2.svg US$3.918 billion (2023)
Total assets Increase2.svg US$21.081 billion (2023)
Total equity Increase2.svg US$16.842 billion (2023)
Owner Techint (60.45%)
Number of employees
29,134 (2023)
Website tenaris.com
Footnotes /references
[1]

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. [1] 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. [1]

Contents

The company owns 11.46% of Ternium, 3.96% of the share capital of Usiminas, and 22% of Techgen. [1]

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. [1]

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. [1] Tenaris was organized on December 17, 2001. [1]

In June 2006, the company acquired Maverick Tube for $3.185 billion. [2]

In September 2006, it sold 75% of Dalmine, its Italian energy supply business, to E.ON for €39 million. [3]

In 2007, the company acquired Hydril for $2.16 billion. [4] [5] The pressure control business was sold to GE Oil and Gas in April 2008. [6]

In January 2020, the company acquired IPSCO Tubulars from OAO TMK for $1.2 billion. [7]

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. [8] [9] [10]

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. [11] [12]

See also

References

  1. 1 2 3 4 5 6 7 "Tenaris S.A. 2023 Form 20-F Annual Report". U.S. Securities and Exchange Commission. 28 May 2024.
  2. ↑ "Tenaris to Acquire Maverick Tube". Association for Iron and Steel Technology . 14 June 2006.
  3. ↑ "(BW) Tenaris to Sell Participation in Dalmine Energie to E.ON" (Press release). Business Wire. 13 September 2006.
  4. ↑ Driver, Anna (9 August 2007). Dobbyn, Tim (ed.). "Tenaris to buy Hydril for $2.16 bln cash". Reuters . Houston, Texas.
  5. ↑ Nelson, Valerie J. (14 June 2007). "Richard C. Seaver, 85; oil-drilling exec, donor to L.A. Opera" . Los Angeles Times .
  6. ↑ Malone, Scott; Ando, Ritsuko (28 January 2008). Bavdek, Maureen; Benkoe, Jeffrey (eds.). "Tenaris to sell Hydril pressure business to GE". Reuters . Boston.
  7. ↑ "Tenaris Completes Acquisition of IPSCO Tubulars". Association for Iron and Steel Technology . 3 January 2020.
  8. ↑ "Tenaris to Pay $5.4 Million in SEC's First-Ever Deferred Prosecution Agreement" (Press release). U.S. Securities and Exchange Commission. 17 May 2011.
  9. ↑ Rubenfeld, Samuel (17 May 2011). "Tenaris SA Pays $8.9 Million To Settle FCPA Probe" . The Wall Street Journal .
  10. ↑ Stempel, Jonathan; Driver, Anna (17 May 2011). Dobbyn, Tim (ed.). "Tenaris settles U.S. Bribery probe". Reuters .
  11. ↑ "Mundo Obrero. Enfrentamiento por el sindicato de TAMSA deja dos muertos" [World Worker. Clash over TAMSA union leaves two dead]. La Izquierda Diario (in Spanish). 24 March 2017.
  12. ↑ Zamudio, Isabel (9 December 2018). "Dan prisión domiciliaria a líder sindical de Tenaris-Tamsa" [Tenaris-Tamsa union leader given house arrest]. Milenio (in Spanish).
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