Tenaris
Manufacturer of steel pipes
From Wikipedia, the free encyclopedia
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]
 | |
| Company type | Société Anonyme |
|---|---|
| Industry | Oilfield services |
| Founded | 17 December 2001 |
| Headquarters | , |
Area served | Worldwide |
Key people | Paolo Rocca (Chairman and CEO) |
| Products | Steel pipes |
| Revenue |  US$14.868 billion (2023) |
| US$4.3 billion (2023) | |
| 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 [1] | |
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]
