Tenaris expects drilling to slow in N. America

Aug 02, 2012 | 03:51 PM |

Tags  Tenaris, earnings, seamless tubing, welded tubing

CHICAGO — Tubular products manufacturer Tenaris SA posted second-quarter net income of nearly $461.1 million, up 60.5 percent from the same period last year on revenue that climbed 16.6 percent to more than $2.8 billion.

Higher sales of premium products for deepwater operations in the Gulf of Mexico, Brazil and Eastern Hemisphere regions, as well as a partial recovery of line pipe shipments in Brazil, more than offset seasonally lower sales in Canada, the Luxembourg-based company said.....

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