Tenaris S.A., organized in

Luxembourg Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France on the south. Its capital and most populous city, Luxembour ...

, is a manufacturer and supplier of steel

pipes Pipe(s), PIPE(S) or piping may refer to: Objects * Pipe (fluid conveyance), a hollow cylinder following certain dimension rules ** Piping, the use of pipes in industry * Smoking pipe ** Tobacco pipe * Half-pipe and quarter pipe, semi-circu ...

and related services for the

petroleum industry The petroleum industry, also known as the oil industry, includes the global processes of hydrocarbon exploration, exploration, extraction of petroleum, extraction, oil refinery, refining, Petroleum transport, transportation (often by oil tankers ...

. 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 Ternium S.A. is a manufacturer of flat and long steel products with production centers in Argentina, Brazil, Mexico, Guatemala, Colombia, and the United States. Ternium owns a 51.5% interest in Usiminas of Brazil. The company has an annual produ ...

, 3.96% of the share capital of

Usiminas Usiminas is one of the largest producers of steel in the Americas, with major steel mills in Brazil with a total capacity of 9.5 million metric tons of steel per year. The company accounts for 28% of total steel output in Brazil. Usiminas has an ...

, and 22% of Techgen. The company is 60.45% owned by

Techint Technical intelligence (TECHINT) is intelligence about weapons and equipment used by the armed forces of foreign nations. The related term, scientific and technical intelligence, addresses information collected or analyzed about the broad range ...

, which is controlled by San Faustin S.A., which is in turn controlled by Rocca & Partners Stichting Administratiekantoor Aandelen San Faustin, a

Stichting A () is a Dutch legal entity with limited liability, not aiming to make profit, with no members or share capital, that exists for a specific purpose that is serving a public, social or an idealistic interest. A stichting is allowed to make profit ...

, 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 E.ON SE is a European multinational electric utility company based in Essen, Germany. It operates as one of the world's largest investor-owned electric utility service providers. The name originates from the Latin word '' aeon'', derived from ...

for €39 million. In 2007, the company acquired Hydril for $2.16 billion. The pressure control business was sold to

GE Oil and Gas GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry. In July 2017, this division was merged with Baker Hughes. The division supplied equipment for the petroleum industry including drilling, subs ...

in April 2008. In January 2020, the company acquired IPSCO Tubulars from

OAO TMK "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 ...

for $1.2 billion.

Controversies

Bribery settlement

In May 2011, Tenaris agreed to pay the

United States Department of Justice The United States Department of Justice (DOJ), also known as the Justice Department, is a United States federal executive departments, federal executive department of the U.S. government that oversees the domestic enforcement of Law of the Unite ...

US$8.9 million in the first ever deferred prosecution agreement with the

U.S. Securities and Exchange Commission The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...

, 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 Veracruz, formally Veracruz de Ignacio de la Llave, officially the Free and Sovereign State of Veracruz de Ignacio de la Llave, is one of the 31 states which, along with Mexico City, comprise the 32 Political divisions of Mexico, Federal Entit ...

Mexico Mexico, officially the United Mexican States, is a country in North America. It is the northernmost country in Latin America, and borders the United States to the north, and Guatemala and Belize to the southeast; while having maritime boundar ...

, 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.

References

External links