Tenaris

Tenaris S.A.
TypeSociété Anonyme
IndustryOilfield services
Founded17 December 2001; 24 years ago (2001-12-17)
Headquarters
Luxembourg City
,
Luxembourg
Area served
Worldwide
Key peoplePaolo Rocca (Chairman) Gabriel Podskubka (CEO)
ProductsSteel pipes
RevenueDecrease US$11.981 billion (2025)
Decrease US$2.283 billion (2025)
Decrease US$1.973 billion (2025)
Total assetsDecrease US$20.072 billion (2025)
Total equityIncrease US$16.829 billion (2025)
OwnerTechint (64.37%)
Number of employees
25,000 (2025)
Websitetenaris.com
Footnotes

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 2024, sales to customers in North America accounted for 46% of sales, compared with 19% in South America, 26% in Asia-Pacific, and 10% in Europe.

Tenaris is controlled by Techint and holds minority interests in Ternium, Usiminas, and Techgen. Its shares are listed on the New York Stock Exchange, Borsa Italiana, and the Mexican Stock Exchange, and are included in the FTSE MIB index.

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

  1. ↑ "Annual Report 2025" (PDF). 2026. Retrieved 8 October 2026.
  2. 1 2 3 "Tenaris S.A. 2023 Form 20-F Annual Report". U.S. Securities and Exchange Commission. 28 May 2024.
  3. 1 2 3 "Annual Report 2024". Tenaris. Retrieved 11 July 2025.
  4. ↑ "Tenaris to Acquire Maverick Tube". Association for Iron and Steel Technology. 14 June 2006.
  5. ↑ "(BW) Tenaris to Sell Participation in Dalmine Energie to E.ON" (Press release). Business Wire. 13 September 2006.
  6. ↑ Driver, Anna (9 August 2007). Dobbyn, Tim (ed.). "Tenaris to buy Hydril for $2.16 bln cash". Reuters. Houston, Texas.
  7. ↑ Nelson, Valerie J. (14 June 2007). "Richard C. Seaver, 85; oil-drilling exec, donor to L.A. Opera". Los Angeles Times.
  8. ↑ Malone, Scott; Ando, Ritsuko (28 January 2008). Bavdek, Maureen; Benkoe, Jeffrey (eds.). "Tenaris to sell Hydril pressure business to GE". Reuters. Boston.
  9. ↑ "Tenaris Completes Acquisition of IPSCO Tubulars". Association for Iron and Steel Technology. 3 January 2020.
  10. ↑ "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.
  11. ↑ Rubenfeld, Samuel (17 May 2011). "Tenaris SA Pays $8.9 Million To Settle FCPA Probe". The Wall Street Journal.
  12. ↑ Stempel, Jonathan; Driver, Anna (17 May 2011). Dobbyn, Tim (ed.). "Tenaris settles U.S. Bribery probe". Reuters.
  13. ↑ "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.
  14. ↑ Zamudio, Isabel (9 December 2018). "Dan prisión domiciliaria a líder sindical de Tenaris-Tamsa" [Tenaris-Tamsa union leader given house arrest]. Milenio (in Spanish).