LUXEMBOURG--(Marketwire - Jun 21, 2011) - Tenaris S.A. (
While Tenaris is prepared to engage in negotiations with the Venezuelan government at any time, Tenaris is concerned about the absence of any meaningful progress in the discussions on compensation since Venezuela's 2009 announcement of the nationalization of Matesi. Tenaris continues to reserve all of its rights under Venezuelan and international law, including investment treaties, and will take legal actions against Venezuela to seek prompt, fair and adequate compensation for its entire interest (including assets and liabilities) in Matesi.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.
Contact Information:
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com