Tenaris

Tenaris S.A. is a global manufacturer and supplier of steel pipes and related services, primarily for the energy industry with nearly 21,750 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. With manufacturing facilities in Argentina, Brazil, Canada, China, Colombia, Italy, Japan, Mexico, Romania, and USA and a network of customer service centers in over 20 countries.[2] Tenaris has an annual production capacity of 3.3 million tons of seamless, and 2.8 million tons of welded pipes, annual consolidated net sales in excess of US$12.1 billion (2008) and 19,400 employees worldwide. In 2007 Tenaris bought Hydril 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; its CFO is Edgardo G. Carlos, its CIO is Luis German and its Planning Director is Alejandro Lammertyn.

In March 2019, Tenaris announced a $1.2 billion deal to acquire IPSCO Tubulars from Russian steelmaker OAO TMK[3].

Tenaris S.A.
Sociedad Anónima
Traded asBITTEN
NYSETS
BCBA: TS
BMVTS
IndustryOilfield services
Founded2001
Headquarters,
Key people
Paolo Rocca (Chairman and CEO)
ProductsSteel pipes for oil and gas, energy and automotive industries
RevenueDecrease US$ 4.3 billion (2016)
Decrease US$ 59 million (2016)
Number of employees
19,399
ParentTechint
Websitewww.tenaris.com

FCPA fine

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.[4]

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.[5]

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."[6]

Violence in Mexico

On December 24, 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.[7] 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, 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 he be audited by Hacienda, the tax collection branch of the government.[8]

See also

References

  1. ^ "About Tenaris".
  2. ^ http://www.tenaris.com/en/aboutus/globalorganization.aspx
  3. ^ "Tenaris to acquire IPSCO Tubulars from TMK $1.2 billion". www.worldoil.com. Retrieved 2019-03-24.
  4. ^ US Securities and Exchange Commission (17 May 2011). "Tenaris to Pay $5.4 Million in SEC's First-Ever Deferred Prosecution Agreement". US Securities and Exchange Commission.
  5. ^ https://www.reuters.com/article/us-usa-justice-tenaris/tenaris-settles-u-s-bribery-probe-idUSTRE74G57L20110517
  6. ^ Samuel Rubenfeld (17 May 2011). "Tenaris SA Pays $8.9 Million To Settle FCPA Probe". Wall Street Journal.
  7. ^ Periodistasdigitales (24 Dec 2013). "Se enfrentan a golpes empleados sindicalizados de Tamsa". Plumas Libres.
  8. ^ Monica Ramirez (19 Apr 2016). "Exigen tamseros que SAT revise fortuna a Pascual Lagunes". AGN Veracruz.

External links

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MERVAL

The MERVAL Index (MERcado de VALores, literally Stock Market) is the most important index of the Buenos Aires Stock Exchange. It is a price-weighted index, calculated as the market value of a portfolio of stocks selected based on their market share, number of transactions and quotation price. The base of MERVAL is set at 30 June 1986 = 0.01 Argentine pesos.

The corporations and weighted prices that compose MERVAL are updated every three months, based on their market share during the previous period.

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Paolo Rocca

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Taenaris artemis

Taenaris artemis is a butterfly in the family Nymphalidae. It was described by Samuel Constantinus Snellen van Vollenhoven in 1860. It is found in the Australasian realm

Taenaris chionides

Taenaris chionides is a butterfly in the family Nymphalidae. It was described by Frederick DuCane Godman and Osbert Salvin in 1880. It is endemic to New Guinea in the Australasian realm.

Taenaris cyclops

Taenaris cyclops is a butterfly in the family Nymphalidae. It was described by Otto Staudinger in 1894. It is found in New Guinea in the Australasian realm.

Taenaris dimona

Taenaris dimona is a butterfly in the family Nymphalidae. It was described by William Chapman Hewitson in 1862. It is found in the Australasian realm.

Taenaris dioptrica

Taenaris dioptrica is a butterfly in the family Nymphalidae. It was described by Samuel Constantinus Snellen van Vollenhoven in 1860. It is found in New Guinea in the Australasian realm.

Taenaris horsfieldii

Taenaris horsfieldii is a butterfly of the family Nymphalidae.

Taenaris myops

Taenaris myops is a butterfly of the family Nymphalidae.

Taenaris onolaus

Taenaris onolaus is a butterfly of the family Nymphalidae. It is found on New Guinea.

Taenaris selene

Taenaris selene is a butterfly in the family Nymphalidae. It was described by John Obadiah Westwood in 1851. It is found in the Australasian realm.

Taenaris urania

Taenaris urania is a butterfly in the family Nymphalidae. It is found in Asia.

Techint

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Tenaris (disambiguation)

Tenaris may refer to:

Tenaris, a global manufacturer and supplier of steel pipes

Tenarus, a town of ancient Laconia

Tenaris (plant), a plant genus in the Apocynaceae or dogbane family

Taenaris, a butterfly genus

Tenaris (plant)

Tenaris is a genus of plant in family Apocynaceae, first described as a genus in 1838. It is native to southern Africa.

SpeciesTenaris browniana S. Moore - Angola

Tenaris chlorantha Schltr. - South Africa

Tenaris filifolia (Schltr.) N.E. Br. - South Africa

Tenaris schultzei (Schltr.) E. Phillips - Kalahari Desertformerly includedTenaris rubella, syn of Brachystelma rubellum

Tenaris simulans, syn of Brachystelma rubellum

Tenaris subaphylla, syn of Caralluma edulis

FTSE MIB companies of Italy
Argentina MERVAL Companies of Argentina

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