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.
Tenaris is controlled by Techint and holds minority interests in Ternium, Usiminas, and Techgen.
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
- List of steel producers