Company type | Sociedad Anónima |
---|---|
Industry | Oilfield services |
Founded | 2001 |
Headquarters | , |
Area served | Worldwide |
Key people | Paolo Rocca (Chairman and CEO) |
Products | Steel pipes for oil and gas, energy and automotive industries |
Revenue | US$14.9 billion (2023) |
US$4.3 billion (2023) | |
US$4.0 billion (2023) | |
Total assets | US$21.1 billion (2023) |
Total equity | US$17.0 billion (2023) |
Number of employees | 19,399[ when? ] |
Parent | Techint |
Website | tenaris |
Tenaris S.A. is a global manufacturer and supplier of steel pipes and related services, primarily for the energy industry with nearly 23,000 employees around the world. [1] It is a majority-owned subsidiary company of the Techint Group, which has interests in steel, energy, engineering and construction and industrial equipment.
It is headquartered in Luxembourg and is also a supplier of welded steel pipes for gas pipelines in South America. It has manufacturing facilities in Argentina, Brazil, Canada, China, Colombia, Italy, Japan, Mexico, Romania, and the US, and customer service centers in over 30 countries. [2] Tenaris has an annual production capacity of 3.3 million tons of seamless and 2.8 million tons of welded pipes, and annual consolidated net sales in excess of US$12.1 billion (2008). [3] In 2007 Tenaris bought Hydril [4] and later split the premium connections from pressure control side of the business. The pressure control business was sold to GE Oil and Gas in April 2008.
The company's CEO is Paolo Rocca. [5]
In March 2019, Tenaris announced a $1.2 billion deal to acquire IPSCO Tubulars from Russian steelmaker OAO TMK. [6]
On 17 May 2011, Tenaris agreed to pay the US Department of Justice US$8.9 million in the first ever deferred prosecution agreement with the Securities and Exchange Commission. [7]
A settlement was reached after Tenaris voluntarily disclosed details of illicit payments made to officials of an Uzbek state-controlled oil firm which were not properly recorded in the company's financial statements. [8]
According to the Department of Justice, Tenaris paid bribes through local agents to obtain competitor's bid information, which it used to submit revised bids in order to secure tenders.
An official at the Department of Justice said: "The company's immediate self-reporting, thorough internal investigation, full cooperation with SEC staff, enhanced anti-corruption procedures and enhanced training made it an appropriate candidate for the Enforcement Division's first Deferred Prosecution Agreement." [9]
On 24 December 2013, over 100 disgruntled ex-employees of Tenaris Tamsa in Veracruz stormed the facilities and were attacked with sticks, pipes and stones by supporters of the worker's union, "Sindicato Union y Progreso", or SNUP. [10] These workers had been dismissed by the company in 2012 for their violence after attempting to elect a new union leader, Jose Carlos Guevara Moreno, "El Profe." Pascual Lagunes Ochoa, a convicted fellon [11] who as of April 2016 remains as the union leader of SNUP, and often attends and speaks at public events. The ex-employees are currently in a legal battle against the company, having been denied their severance. They have also requested that it be audited by Hacienda, the tax collection branch of the government. [12]
KBR, Inc. is a U.S. based company operating in fields of science, technology and engineering.
SAP SE is a German multinational software company based in Walldorf, Baden-Württemberg, Germany. It develops enterprise software to manage business operation and customer relations. The company is the world's largest enterprise resource planning (ERP) software vendor.
The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide.
Schlumberger NV, doing business as SLB, also known as Schlumberger Limited, is a global technology company. As of 2022, it is both the world's largest oilfield services company and the world's leader in digital solutions for subsurface and surface engineering.
Baker Hughes Company is an American energy company based in Houston, Texas. As one of the world's largest oil field services companies, it provides products and services for oil well drilling, formation evaluation, completion, production, reservoir consulting, and tubular running services. It operates in over 120 countries, with research and manufacturing facilities in Australia, Singapore, Malaysia, India, UAE, Saudi Arabia, Italy, Germany, Norway, Oklahoma, Louisiana and Missouri. From 2017 to 2020, the company was majority owned by General Electric (GE); however, GE no longer owns an economic stake in the company. The company is incorporated in Delaware.
SSAB AB, earlier Svenskt Stål AB is a Swedish company, formed in 1978, that specialises in producing steel. The largest shareholders are LKAB and the Government of Finland.
Lone Star Steel Company was a company that operated a plant that produced steel in Lone Star, Texas. It specialized in making tubular steel with outer diameters ranging from 16 inches to 1.415 inches. In 2007, it was acquired by U.S. Steel for $2.1 billion.
Techint is an Italian-Argentine conglomerate founded in Milan in 1945 by Italian industrialist Agostino Rocca and headquartered in Buenos Aires (Argentina) and Milan (Italy). As of 2019 the Techint Group is composed of six main companies in the following areas of business: engineering, construction, steel, mining, oil & gas, industrial plants, healthcare. Techint, with its subsidiaries, is the largest steel making company in Argentina.
ResMed Inc. is an American medical equipment company based in San Diego, California. It primarily provides cloud-connectable medical devices for the treatment of sleep apnea, chronic obstructive pulmonary disease (COPD), and other respiratory conditions. ResMed produced hundreds of thousands of ventilators and bilevel devices to help treat the respiratory symptoms of patients with COVID-19. ResMed also provides software to out-of-hospital care agencies to streamline transitions of care into and between these care settings for seniors and their care providers.
AK Steel Holdings Corporation was an American steelmaking company headquartered in West Chester Township, Ohio. The company, whose name was derived from the initials of Armco, its predecessor company, and Kawasaki Steel Corporation, was acquired by Cleveland-Cliffs in 2020.
The Statoil corruption case, also known as the Statoil-Horton case refers to Norwegian oil company Statoil’s misconduct and extensive use of bribery in Iran between 2002 and 2003, in an attempt to secure lucrative oil contracts for the company in that country. This was mainly achieved by hiring the services of Horton Investments, an Iranian consultancy firm owned by Mehdi Hashemi Rafsanjani, son of former Iranian President Hashemi Rafsanjani. Horton Investments was paid US$15.2 million by Statoil to influence important political figures in Iran to grant oil contracts to Statoil. The corruption scandal was uncovered by Norwegian paper Dagens Næringsliv on September 3, 2003. Although this case became infamous in the western media and Statoil was found guilty by the Norwegian courts, no verdict was reported by the Iranian media regarding Mehdi Hashemi Rafsanjani's bribery case.
"TMK" is a leading global manufacturer and supplier of steel pipes, tubular solutions and related services for the oil and gas industry, and specialty tubular products and pipeline systems for the nuclear, chemical, mechanical engineering and construction industries. Currently, the company integrates production assets in Russia, Kazakhstan, Romania and Czech Republic. and two R&D centers in Russia. Headquarters – Moscow (Russia).
Wells Fargo & Company is an American multinational financial services company with a significant global presence. The company operates in 35 countries and serves over 70 million customers worldwide. It is a systemically important financial institution according to the Financial Stability Board, and is considered one of the "Big Four Banks" in the United States, alongside JPMorgan Chase, Bank of America, and Citigroup.
Sculptor Capital Management is an American global diversified alternative asset management firm. They are one of the largest institutional alternative asset managers in the world.
Toni Rüttimann is a Swiss bridge builder who works in Southeast Asia and in Latin America, where he is known as Toni el Suizo.
Roberto Rocca was a prominent Italian-born naturalized Argentinian businessman.
Paolo Rocca is an Argentine-Italian businessman, CEO of the Techint Group, which owns Tenaris, Ternium and other companies in the engineering, construction and energy sectors. He is also chairman and CEO of Tenaris, and chairman of Ternium. As of July 2024, Forbes estimated his net worth at US$5.0 billion.
Welspun Corp Limited is an Indian multinational company with its headquarters in Mumbai, India. It specializes in manufacturing large-diameter pipes and operates in multiple countries across six continents. Its manufacturing facilities are located in Anjar (Gujarat), Bhopal, Mandya (Karnataka), Jhagadia (Gujarat), and Little Rock, Arkansas, in the US.
Merrill, previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investment banking arm, both firms engage in prime brokerage and broker-dealer activities. The firm is headquartered in New York City, and once occupied the entire 34 stories of 250 Vesey Street, part of the Brookfield Place complex in Manhattan. Merrill employs over 14,000 financial advisors and manages $2.8 trillion in client assets. The company also operates Merrill Edge, a division for investment and related services, including call center counsultancy.
The Pipe industry of Russia is part of that country's ferrous metallurgy sector. In recent years, approximately $8 billion has been invested in the modernization of Russian pipe manufacture, making it possible to produce new products and improve quality. By 2010, about 40% of the pipes produced in Russia were manufactured on new equipment.