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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Tenaris    TEN   LU0156801721


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Tenaris : reaffirms its commitment to the value chain in Argentina

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07/07/2020 | 05:44pm EDT

PUBLISHED ON 07/07/2020

Support to the value chain continues to be one of Tenaris's guiding principles, even more so today in response to the coronavirus pandemic. Within the framework of the ProPymes program, an initiative to support small and medium enterprises (SMEs) in Argentina, Tenaris dispatched 3,000 face shields to 53 SMEs to help the businesses continue their operations, safely.

The face shields were manufactured at Tenaris's seamless mill in Campana, Argentina, and distributed to companies, primarily Tenaris business partners, across the country. Sebastián Calafiore, commercial manager of Gasmarket S.A., which is dedicated to the commercialization of natural gas and associated products, and is a Tenaris customer, stated, 'All these actions attempt to slow the spread of the virus, but also remind us that we are close to one another, in the midst of social distancing circumstances.'

The ProPymes Program was established in December 2002 by the Techint Group, which includes Tenaris, to help reenergize the local industrial fabric of Argentina following a deep economic crisis in 2001. The program aims to help small and medium businesses and suppliers through a comprehensive corporate program, which includes industrial assistance and training programs, to support their value chain. Currently ProPymes is providing support to more than 900 SMEs in the metals and oil services sector.

To date, Tenaris's Siderca mill in Campana has manufactured more than 50,000 units of facial shields, which were distributed among plant employees, medical workers, communities in the country, SMEs, and also included a shipment to Tenaris plants in Saudi Arabia.

To learn about Tenaris's management plan to address the COVID-19 crisis, please visit https://www.tenaris.com/en/covid19/

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Tenaris SA published this content on 07 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2020 21:43:00 UTC

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Sales 2020 5 002 M - -
Net income 2020 -409 M - -
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P/E ratio 2020 29,1x
Yield 2020 3,11%
Capitalization 7 211 M 7 193 M -
EV / Sales 2020 1,29x
EV / Sales 2021 1,31x
Nbr of Employees 23 200
Free-Float 39,5%
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