Tenaris S.A. manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications. The company’s principal products include casing, tubing, line pipe, and mechanical and structural pipes. The company operates an integrated worldwide network of steel pipe manufacturing, research, finishing and service facilities with industrial operations in the Americas, Europe, Asia and Africa and a direct presence in oil and gas markets. The company engages in the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products. Business activities included are dependent on the oil and gas industry worldwide, as this industry is a major consumer of steel pipe products, particularly OCTG used in drilling activities. The company also engages in the production and selling of sucker rods, welded steel pipes for electric conduits, industrial equipment, coiled tubing, energy and raw materials that exceed internal requirements. Products The company’s principal finished products are seamless and welded steel casing and tubing, line pipe and various other mechanical and structural steel pipes for different uses. Casing and tubing are also known as OCTG. The company manufactures its steel pipe products in a range of specifications, which vary in diameter, length, thickness, finishing, steel grades, coating, threading and coupling. For major complex applications, including high pressure and high temperature applications, seamless steel pipes are usually specified and, for some standard applications, welded steel pipes could also be used. Casing-Steel casing is used to sustain the walls of oil and gas wells during and after drilling. Tubing-Steel tubing is used to conduct crude oil and natural gas to the surface after drilling has been completed. Line Pipe-Steel line pipe is used to transport crude oil and natural gas from wells to refineries, storage tanks and loading and distribution centers. Mechanical and Structural Pipes-Mechanical and structural pipes are used by general industry for various applications, including the transportation of other forms of gas and liquids under high pressure. Cold-Drawn Pipe-The cold-drawing process permits the production of pipes with the diameter and wall thickness required for use in boilers, superheaters, condensers, heat exchangers, automobile production and various other industrial applications. Premium Joints and Couplings-Premium joints and couplings are specially designed connections used to join lengths of steel casing and tubing for use in high temperature or high pressure environments. A significant portion of the company's steel casing and tubing products are supplied with premium joints and couplings. The company owns a range of premium connections, and following the integration of the premium connections business of Hydril, it has marketed its premium connection products under the TenarisHydril brand name. In addition, the company holds licensing rights to manufacture and sell the Atlas Bradford range of premium connections outside the United States. Coiled Tubing-Coiled tubing is used for oil and gas drilling and well workovers and for subsea pipelines. Other Products-The company also manufactures sucker rods used in oil extraction activities, industrial equipment of various specifications and diverse applications, including liquid and gas storage equipment, and welded steel pipes for electric conduits used in the construction industry. In addition, the company sells energy and raw materials that exceed its internal requirements. Customers The company’s customers include oil and gas companies, as well as engineering companies engaged in constructing oil and gas gathering, transportation, processing and power generation facilities. Strategy The company's business strategy is to continue expanding its operations worldwide and further consolidate its position as a primary global supplier of tubular products and services to the energy and other industries by pursuing strategic investment opportunities in order to strengthen its presence in local and global markets; expanding its comprehensive range of products and developing new high-value products designed to meet the needs of customers operating in increasingly challenging environments; securing an adequate supply of production inputs and reducing the manufacturing costs of its core products; and improving its offer of technical and pipe management services designed to enable customers to optimize their selection and use of its products and reduce their overall operating costs. Research and Development The company spent $89 million for research and development activities in 2015. Other Investments Ternium S.A. (Ternium) The company has a significant investment in Ternium, one of the primary steel producers of the Americas with production facilities in Latin America. As of March 31, 2016, the company held 11.46% of Ternium’s share capital (including treasury shares). Usinas Siderúrgicas de Minas Gerais S.A. (Usiminas) The company’s subsidiary Confab Industrial S.A., holds interest in Usiminas, a major Brazilian producer of flat steel products used in the energy, automotive and other industries. Techgen, S.A. de C.V. (Techgen) Techgen is a joint venture company owned 48% by Ternium, 30% by Tecpetrol International S.A. (a wholly-owned subsidiary of San Faustin S.A., the controlling shareholder of both the company and Ternium) and 22% by the company. Techgen is building a natural gas-fired combined cycle electric power plant in the Pesquería area of the state of Nuevo León, Mexico. Competition The company’s principal competitors in steel pipe markets worldwide include Vallourec; Nippon Steel & Sumitomo Metal Corporation; JFE; TMK; TPCO; Tubos Reunidos S.A. of Spain; Benteler A.G. of Germany; and Voest Alpine AG of Austria. History Tenaris S.A. was founded in 1909.
tenaris sa-adr (TS:New York)
29 Avenue de la Porte-Neuve
Phone: 352 26 478978
Fax: 352 26 478979www.tenaris.com
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