Exhibit 99.1 |
Tenaris Issues Update on Dalmine Shareholding |
Luxembourg, March 11, 2003 - Tenaris S.A.(NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN) (“Tenaris”) announced today that, pursuant to purchases made in the market, it has increased its shareholding in Dalmine S.p.A. (MTA Italy: D) so that it now holds over 90% of Dalmine’s ordinary shares. Accordingly, Tenaris plans to launch, in accordance with Italian regulations, a residual public offer for the remaining shares of Dalmine at a price which will be determined by the Italian securities’ regulator (“CONSOB”). Upon the conclusion of this residual public offer Dalmine’s shares will be delisted. |
This communication does not constitute an offer or solicitation for the sale, purchase or acquisition of securities in any jurisdiction. |
With manufacturing facilities in Argentina, Brazil, Canada, Italy, Japan, Mexico and Venezuela and a network of customer service centers present in over 20 countries worldwide, Tenaris is a leading global manufacturer of seamless steel pipes and provider of pipe handling, stocking and distribution services to the oil and gas, energy and mechanical industries as well as a leading regional supplier of welded steel pipes for gas pipelines in South America. |