Italian court dismisses case against Tenaris’s Chairman and Chief Executive Officer and two other Board members over allegedly improper payments
27 May 2022 - 7:35AM
Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) was advised
today that the Milan court of first instance overseeing an
investigation in Italy into allegedly improper payments made in
Brazil prior to 2014 for the supposed benefit of Confab Industrial
S.A., a Brazilian subsidiary of the Company, dismissed for lack of
jurisdiction the case brought by the public prosecutor against each
of Tenaris’s Chairman and Chief Executive Officer Paolo Rocca and
Board members Gianfelice Rocca and Roberto Bonatti, and the
Company’s controlling shareholder, San Faustin S.A.. The court
stated that “the criminal proceeding should not even have been
initiated”. The public prosecutor may appeal the decision.
Tenaris is a leading global supplier of steel
tubes and related services for the world’s energy industry and
certain other industrial applications.
Giovanni
Sardagna Tenaris
1-888-300-5432www.tenaris.com
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