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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Energy Oil & Gas Equipment & Services
Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Tenaris ADR Rep 2 Ord Shs > Vertical scope
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Comment by Mediawatcheron Dec 05, 2019 4:42pm
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Post# 30426609

RE:RE:RE:RE:RE:Vertical scope

RE:RE:RE:RE:RE:Vertical scopeFair enough.  I've made a few missteps in my postings out of enthusiasm.

We have no details on the debt and agree there is a lack of transparency in the disclosures.  As they are generating positive cash flow and are reducing their debt each quarter I am less concerned about the prospects of bankruptcy.  I don't know if Torstar is backstopping the debt, but that would be an act of supreme stupidity (not out of the realm of possibilities).

I don't see them buying anything going forward and focusing on debt and cost reduction.  Double-digit revenue declines have that effect on acquisitive executives.  VS was another mistake, but it has some value until Torstar tries to assume 100% ownership.  See StarMetro for the latest example of the reverse Midas Touch.

MW

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