Tenaris

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Wikipedia

Tenaris S.A.
Company typeSociedad Anónima
IndustryOilfield services
Founded17 December 2001; 24 years ago (2001-12-17)
Headquarters
Luxembourg City
,
Luxembourg
Area served
Worldwide
Key people
Paolo Rocca (Chairman and CEO)
ProductsSteel pipes
RevenueIncrease US$12.5[1] billion (2024)
Increase US$ 2.4 [1] billion (2024)
Increase US$ 2.0 [1] billion (2024)
Total assetsIncrease US$ 20.4 [1] billion (2024)
Total equityIncrease US$ 16.8 [1] billion (2024)
OwnerTechint (60.45%)
Number of employees
25,874 [1] (2024)
Websitetenaris.com
Footnotes / references
[2]

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]

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

Tenaris operates globally in the production and supply of steel pipes and related services mainly for the energy industry, particularly for oil and gas. Its integrated production system covers all essential phases, from steelmaking to pipe rolling, heat treatment, threading, and finishing.[1][16]

Factories

Tenaris has its registered office in Luxembourg,[5] while its production facilities are in Argentina, Brazil, Canada, Indonesia, Italy, Mexico, Nigeria, Norway, Saudi Arabia, Romania, the United Arab Emirates and the United States.[17][1][16]

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]

See also

References

  1. 1 2 3 4 5 6 7 8 9 10 11 12 "Annual Report 2024". Retrieved 11 July 2025.
  2. 1 2 3 4 "Tenaris S.A. 2023 Form 20-F Annual Report". U.S. Securities and Exchange Commission. 28 May 2024.
  3. ↑ "2002: Dalmine divenne Tenaris. L'operazione è stata un successo". L'Eco di Bergamo (in Italian). 16 June 2012. Retrieved 18 November 2025.
  4. ↑ "Dalmine S.p.A." Treccani (in Italian). Retrieved 18 November 2025.
  5. 1 2 Vittorio Malagutti e Stefano Vergine (3 February 2017). "Soldi e potere: il tesoro della famiglia Rocca". L'Espresso (in Italian). Retrieved 18 November 2025.
  6. ↑ "Tenaris acquista la rumena Silcotub Produce tubi d'acciaio senza saldatura". L'Eco di Bergamo (in Italian). 11 February 2004. Retrieved 18 November 2025.
  7. ↑ "Tenaris to Acquire Maverick Tube". Association for Iron and Steel Technology. 14 June 2006.
  8. ↑ "(BW) Tenaris to Sell Participation in Dalmine Energie to E.ON" (Press release). Business Wire. 13 September 2006.
  9. ↑ Driver, Anna (9 August 2007). Dobbyn, Tim (ed.). "Tenaris to buy Hydril for $2.16 bln cash". Reuters. Houston, Texas.
  10. ↑ Nelson, Valerie J. (14 June 2007). "Richard C. Seaver, 85; oil-drilling exec, donor to L.A. Opera". Los Angeles Times.
  11. ↑ Malone, Scott; Ando, Ritsuko (28 January 2008). Bavdek, Maureen; Benkoe, Jeffrey (eds.). "Tenaris to sell Hydril pressure business to GE". Reuters. Boston.
  12. ↑ "Tenaris adquiere control de Seamless Pipe Indonesia Jaya". GlobeNewswire (in Spanish). 30 April 2009. Retrieved 18 November 2025.
  13. ↑ "Tenaris, shopping in Arabia Saudita: rileva il 48% di Saudi Steel Pipe". Il Sole 24 Ore (in Italian). 26 February 2024. Retrieved 18 November 2025.
  14. ↑ "Tenaris Completes Acquisition of IPSCO Tubulars". Association for Iron and Steel Technology. 3 January 2020.
  15. ↑ "Tenaris acquista per 166 milioni di dollari una controllata di Mattr". La Stampa (in Italian). 16 August 2023. Retrieved 18 November 2025.
  16. 1 2 Franceasca Gerosa (16 August 2023). "Tenaris amplia la sua offerta di prodotti, acquisisce il 100% di Bredero Shaw International". Milano Finanza (in Italian). Retrieved 18 November 2025.
  17. ↑ "Tenaris acquista impianto di lavorazione tubi negli Stati Uniti". La Stampa (in Italian). 7 September 2023. Retrieved 18 November 2025.
  18. ↑ "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.
  19. ↑ Rubenfeld, Samuel (17 May 2011). "Tenaris SA Pays $8.9 Million To Settle FCPA Probe". The Wall Street Journal.
  20. ↑ Stempel, Jonathan; Driver, Anna (17 May 2011). Dobbyn, Tim (ed.). "Tenaris settles U.S. Bribery probe". Reuters.
  21. ↑ "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.
  22. ↑ Zamudio, Isabel (9 December 2018). "Dan prisión domiciliaria a líder sindical de Tenaris-Tamsa" [Tenaris-Tamsa union leader given house arrest]. Milenio (in Spanish).