form6k.htm
FORM
6 - K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Private Issuer
Pursuant
to Rule 13a - 16 or 15d - 16 of
the
Securities Exchange Act of 1934
As
of
January 28, 2008
TENARIS,
S.A.
(Translation
of Registrant's name into English)
TENARIS,
S.A.
46a,
Avenue John F.
Kennedy
L-1855
Luxembourg
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or 40-F.
Form
20-F
x
Form 40-F¨
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12G3-2(b) under the Securities Exchange Act of 1934.
Yes
¨
No
x
If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-___.
The
attached material is being furnished to the Securities and Exchange Commission
pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934,
as amended. This
report contains Tenaris's press release announcing the sale of Hydril Pressure
Control Business to GE.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date:
January 28, 2008
Tenaris,
S.A.
By:
/s/ Cecilia
Bilesio
Cecilia
Bilesio
Corporate
Secretary
Nigel
Worsnop
Tenaris
1-888-300-5432
www.tenaris.com
Tenaris
to Sell Hydril Pressure Control Business to GE
Luxembourg,
January 28, 2008. Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy:
TEN) announced today that it has entered into an agreement with General Electric
Company (GE), pursuant to which it will sell the pressure control business
acquired as part of the Hydril transaction to GE for an amount equivalent on
a
debt-free basis to US$1,115 million. The agreement is subject to governmental
and regulatory approvals and other customary conditions and is expected to
close
during the second quarter.
Since
its acquisition of Hydril Company
in May 2007, Tenaris has integrated Hydril’s premium connection business into
its core tubular business and managed the Hydril pressure control business
separately. The Hydril pressure control business manufactures, sells and
services pressure control products and systems that control and contain fluid
and gas pressure during drilling, completion and maintenance of oil and gas
wells in harsh environments.
Paolo
Rocca, Chairman and CEO of
Tenaris, commented, “The Hydril pressure control business is one with excellent
technology, an impressive team and solid prospects but has limited synergies
with our core tubular business. We believe that its opportunities will be
enhanced within GE, as part of its growing oil and gas business, and that this
transaction is in the best interests of its employees and customers and our
shareholders.”
Tenaris
is a leading global supplier of steel tubes and related services for the world’s
energy industry and certain other industrial applications.
Some
of the statements contained in this press release are "forward-looking
statements” within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements are based on management's current
views and assumptions and involve known and unknown risks that could cause
actual results, performance or events to differ materially from those expressed
or implied by those statements. These risks include, but are not limited to,
risks about the expected timing, effects and completion of this proposed
divestment.