User:AST24/sandbox
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. It produces and ships over 4 million tons of pipes annually.[2] In 2024, sales to customers in North America accounted for 46%, 19% in South America, 26% in the Asia-Pacific, and 10% in Europe.[1]
| Company type | Sociedad Anónima |
|---|---|
| Industry | Oilfield services |
| Founded | 17 December 2001 |
| Headquarters | , |
Area served | Worldwide |
Key people | Paolo Rocca (Chairman and CEO) |
| Products | Steel pipes |
| Revenue |  US$12.5 billion (2024) |
| US$ 2.4 billion (2024) | |
| US$ 2.0 billion (2024) | |
| Total assets | US$ 20.4 billion (2024) |
| Total equity | US$ 16.8 billion (2024) |
| Owner | Techint (60.45%) |
Number of employees | 25,874 (2024) |
| Website | tenaris |
| Footnotes / references [1] | |
The company owns 11.46% of Ternium, 3.96% of the share capital of Usiminas, and 22% of Techgen. Tenaris 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]
It is listed on the New York Stock Exchange, on the FTSE MIB index of the Borsa Italiana and on the Mexican Stock Exchange.[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.[2] Tenaris was organized on December 17, 2001.[2] Dalmine (Italy), Siderca (Argentina), Tamsa (Mexico), NKKTubes (Japan), AlgomaTubes (Canada), Tavsa (Venezuela), Confab (Brazil), and Siat (Argentina) were brought together under the Tenaris brand.[3] The new name was placed alongside the historic brands, giving rise to TenarisDalmine, TenarisSiderca, TenarisTamsa and other. The Tenaris brand replaced DST, an acronym for the group's three main entities: Dalmine, Siderca, and Tamsa.[4] Tenaris S.A. is therefore a holding company grouping several companies of the Techint Group, founded in 1945 by Agostino Rocca, who emigrated to Argentina after World War II.[5]
Since the early 2000s, Tenaris has carried out several acquisitions. In 2004, it acquired the Romanian company Silcotub[6] and the American Maverick Tube for $3.185 billion in June 2006.[7]In September 2006, it sold 75% of Dalmine Energie, its Italian energy supply business, to E.ON for €39 million.[8] In 2007, the company acquired Hydril for $2.16 billion.[9][10] The pressure control business was sold to GE Oil and Gas in April 2008.[11] One year later, it acquired Indonesian firm SPIJ, specialized in heat treatment and threading.[12]
In 2019, Tenaris bought a 48% stake in Saudi Steel Pipe, a welded pipe producer in Saudi Arabia.[13] In January 2020, the company acquired IPSCO Tubulars from OAO TMK for $1.2 billion.[14] In 2023, it obtained 100% of Bredero Shaw International, a subsidiary of Mattr.[15]
Operations
Factories
Governance
Chairman and CEO: Paolo Rocca
Board members:[1]
- Simon Ayat
- Roberto Bonatti
- Carlos Condorelli
- Germán Curá
- Molly Montgomery
- Maria Novales-Flamarique
- Gianfelice Rocca
- Jaime José Serra Puche
- Monica Tiuba
- Guillermo Vogel
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.[18][19][20]
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.[21][22]