Tenaris’ N. American sales strong in 2012
Feb 22, 2013 | 06:06 PM
| Samuel Frizell
Tags
Tenaris,
steel tube,
earnings report,
Paolo Rocca,
Germán Curá,
South Korean imports,
trade case,
shale plays
Samuel Frizell
NEW YORK — Tenaris SA will continue to capitalize on the North American energy boom after a strong 2012, despite competition from low-priced South Korean imports, executives said during a Feb. 22 earnings call.
"Our position in North America has strengthened substantially through the year," Tenaris chairman and chief executive officer Paolo Rocca told investors, citing as a driver the company’s leading position in Gulf of Mexico deepwater drilling and U.S. shale plays.
Tenaris’ North American tube sales rose 22 percent over 2011 to $4.95 billion in 2012, an increase the company said was driven by greater liquids-drilling activity and recovery in the Gulf of Mexico. The increase in North American sales, paired with an 11-percent increase in South American sales, accounted for most of the company’s $861.5-million increase in sales in 2012 over 2011. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here