Re: TS Tenaris
Publicado: Mié Dic 30, 2009 12:37 pm
Tenaris to Keep Open All Its Plants in Italy, Dalmine CEO Says
By Tommaso Ebhardt
Dec. 30 (Bloomberg) -- Tenaris SA, the world’s biggest maker of seamless-steel tubes for pipelines, will keep open all five of its plants in Italy after agreeing with labor unions to reduce its workforce in the country.
Tenaris Dalmine SpA, the company’s Italian unit, yesterday agreed with unions on a plan that includes 741 jobs cuts instead of a planned 1,024, and 114 million euros ($163 million) of investments for a “strategic repositioning” of its business.
Tenaris, whose shares trade in Italy, Argentina, Mexico and the U.S., is seeking to reduce costs amid slumping demand due to the global recession and increased competition from China.
“The next three years will be crucial to analyzing the evolution of the situation in a critical market scenario,” Vincenzo Crapanzano, chief executive officer of Tenaris Dalmine SpA, said in an e-mailed statement late yesterday.
To contact the reporter on this story: Tommaso Ebhardt at tebhardt@bloomberg.net
Last Updated: December 30, 2009 04:26 EST
http://www.bloomberg.com/apps/news?pid= ... rRnHQ1tQSQ
By Tommaso Ebhardt
Dec. 30 (Bloomberg) -- Tenaris SA, the world’s biggest maker of seamless-steel tubes for pipelines, will keep open all five of its plants in Italy after agreeing with labor unions to reduce its workforce in the country.
Tenaris Dalmine SpA, the company’s Italian unit, yesterday agreed with unions on a plan that includes 741 jobs cuts instead of a planned 1,024, and 114 million euros ($163 million) of investments for a “strategic repositioning” of its business.
Tenaris, whose shares trade in Italy, Argentina, Mexico and the U.S., is seeking to reduce costs amid slumping demand due to the global recession and increased competition from China.
“The next three years will be crucial to analyzing the evolution of the situation in a critical market scenario,” Vincenzo Crapanzano, chief executive officer of Tenaris Dalmine SpA, said in an e-mailed statement late yesterday.
To contact the reporter on this story: Tommaso Ebhardt at tebhardt@bloomberg.net
Last Updated: December 30, 2009 04:26 EST
http://www.bloomberg.com/apps/news?pid= ... rRnHQ1tQSQ