 | |
| Company type | Sociedad Anónima |
|---|---|
| Traded as | |
| Industry | Oilfield services |
| Founded | 17 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 |
| Revenue |  US$14.868 billion (2023) |
| Operating income | US$4.3 billion (2023) |
| Net income | US$3.918 billion (2023) |
| Total assets | US$21.081 billion (2023) |
| Total equity | US$16.842 billion (2023) |
| Owner | Techint (60.45%) |
| Number of employees | 29,134 (2023) |
| Website | tenaris |
| Footnotes / references | |
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.
See also
References
- ^ "Tenaris S.A. 2023 Form 20-F Annual Report". U.S. Securities and Exchange Commission. 28 May 2024.
- "Tenaris to Acquire Maverick Tube". Association for Iron and Steel Technology. 14 June 2006.
- "(BW) Tenaris to Sell Participation in Dalmine Energie to E.ON" (Press release). Business Wire. 13 September 2006.
- Driver, Anna (9 August 2007). Dobbyn, Tim (ed.). "Tenaris to buy Hydril for $2.16 bln cash". Reuters. Houston, Texas.
- Nelson, Valerie J. (14 June 2007). "Richard C. Seaver, 85; oil-drilling exec, donor to L.A. Opera". Los Angeles Times.
- Malone, Scott; Ando, Ritsuko (28 January 2008). Bavdek, Maureen; Benkoe, Jeffrey (eds.). "Tenaris to sell Hydril pressure business to GE". Reuters. Boston.
- "Tenaris Completes Acquisition of IPSCO Tubulars". Association for Iron and Steel Technology. 3 January 2020.
- "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.
- Rubenfeld, Samuel (17 May 2011). "Tenaris SA Pays $8.9 Million To Settle FCPA Probe". The Wall Street Journal.
- Stempel, Jonathan; Driver, Anna (17 May 2011). Dobbyn, Tim (ed.). "Tenaris settles U.S. Bribery probe". Reuters.
- "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.
- Zamudio, Isabel (9 December 2018). "Dan prisión domiciliaria a líder sindical de Tenaris-Tamsa" [Tenaris-Tamsa union leader given house arrest]. Milenio (in Spanish).
