Key Developments: Tenaris SA (TS)

TS on New York Consolidated

38.96USD
30 Oct 2014
Price Change (% chg)

$0.01 (+0.03%)
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Latest Key Developments (Source: Significant Developments)

Tenaris SA extends term of NKKTUBES joint venture agreement through 2030
Friday, 23 May 2014 04:15pm EDT 

Tenaris SA:Completes the renegotiation of its joint venture agreement with JFE Steel Corporation for the governance and operation of NKKTUBES.NKKTUBES is Japanese seamless steel pipe manufacturer that produces a wide range of carbon, alloy and stainless steel pipes for the domestic and export markets.Tenaris holds 51 pct interest in NKKTUBES, while JFE Steel Corporation holds the remaining 49 pct.Joint venture agreement, which was due to expire on July 31, 2015, will now run through July 31, 2030.JFE Steel Corporation will continue to supply steel billets and other essential inputs and services to NKKTUBES under existing supply agreements.  Full Article

Tenaris SA issues guidance for FY 2014
Thursday, 1 May 2014 08:23pm EDT 

Tenaris SA:Expects its overall results for 2014 to be in line with those for 2013.  Full Article

Tenaris SA proposes annual dividend
Thursday, 20 Feb 2014 04:03pm EST 

Tenaris SA:Proposes an annual dividend of $0.43 per share.Payable on May 22 with an ex-dividend date of May 19.  Full Article

Tenaris SA Announces Interim Dividend Payment
Wednesday, 6 Nov 2013 04:05pm EST 

Tenaris SA announced that its Board of Directors approved the payment of an interim dividend of $0.13 per share ($0.26 per ADS), or approximately $153 million. The payment date will be November 21, 2013, and the ex-dividend date will be November 18, 2013.  Full Article

Tenaris SA And Tecpetrol Tecpetrol to Build and Operate Power Plant in Me
Monday, 19 Aug 2013 01:02am EDT 

Tenaris S.A., Ternium S.A And Tecpetrol International S.A. announced that they have entered into a memorandum of understanding to jointly build and operate a natural gas-fired combined cycle electric power plant in Mexico, which would supply Tenaris's and Ternium's respective Mexican industrial facilities. Together, both companies are one of the largest private energy consumers in Mexico. Tecpetrol is a wholly-owned subsidiary of San Faustin S.A., the controlling shareholder of both Tenaris and Ternium.  Full Article

Tenaris SA Announces FY 2012 Dividend Payment
Wednesday, 15 May 2013 12:51pm EDT 

Tenaris SA announced a dividend payment for fiscal year 2012 in the approximate amount of USD 507,600,000 equivalent to USD 0.43 per share, which includes the dividend already paid on November 22, 2012 in the amount of USD 153,000,000 at the value of USD 0.13 per share and the dividend to be paid as of May 23, 2013 in the approximate amount of USD 354,000,000 at the value of USD 0.30 per share.  Full Article

Tenaris SA to Replace Chief Financial Officer; Proposes Dividend for FY 2012
Thursday, 21 Feb 2013 06:32pm EST 

Tenaris SA announced that effective as of July 1, 2013, Edgardo Carlos will assume the position of Chief Financial Officer, replacing Ricardo Soler. Additionally, the board of directors proposes, for the approval of the annual general shareholders’ meeting to be held on May 2, 2013, the payment of an annual dividend of USD 0.43 per share for the fiscal year, or approximately USD 507.6 million, which includes the interim dividend of USD 0.13 per share, or approximately USD 153.5 million, paid in November, 2012. If the annual dividend is approved by the shareholders, a dividend of USD 0.30 per share, or approximately USD 354.2 million will be paid on May 23, 2013, with an ex-dividend date of May 20, 2013.  Full Article

Tenaris SA Subsidiary Named In CSN Lawsuit Seeking Tender Offer To Minority Holders Of Usiminas Ordinary Shares
Monday, 4 Feb 2013 09:30pm EST 

Tenaris SA announced that its Brazilian subsidiary Confab Industrial S.A. (Confab) was notified of a lawsuit filed in Brazil by Companhia Siderurgica Nacional (CSN) and various entities affiliated with CSN against Confab and various subsidiaries of Ternium S.A. The entities named in the CSN lawsuit had acquired a participation in Usinas Siderurgicas de Minas Gerais S.A. - USIMINAS (Usiminas) in January 2012. The CSN lawsuit alleges that, under applicable Brazilian laws and rules, the acquirers were required to launch a tag-along tender offer to all minority holders of Usiminas ordinary shares for a price per share equal to 80% of the price per share paid in such acquisition, or 28.8 Brazilian reais (BRL), and seeks an order to compel the acquirers to launch an offer at that price plus interest. If so ordered, the offer would need to be made to 182,609,851 ordinary shares of Usiminas not belonging to Usiminas' control group, and Confab would have a 17.9% share in the offer. Tenaris believes that CSN's allegations are groundless and without merit, as confirmed by several opinions of Brazilian counsel and previous decisions by Brazil's securities regulator Comissao de Valores Mobiliarios, including a February 2012 decision determining that the above mentioned acquisition did not trigger any tender offer requirement. Accordingly, Tenaris will defend itself vigorously.  Full Article

Brazil's Usiminas taps Tenaris executive as senior vice president

SAO PAULO, Oct 24 - A key shareholder in Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA said on Friday that industry veteran Tulio Chipoletti was named as senior industrial vice president on a temporary basis.

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