Deutsche Bank today announced its appointment as successor depositary bank for the Level II New York Stock Exchange-listed American Depositary Receipt (ADR) program of Tenaris S.A. (Tenaris).
Tenaris is a leading global manufacturer and supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications. Its customers include most of the world’s leading oil and gas companies as well as engineering companies engaged in constructing oil and gas gathering, transportation, processing facilities. Tenaris’s principal products include casing, tubing, line pipe, and mechanical and structural pipes. Tenaris operates an integrated worldwide network of steel pipe manufacturing, research, finishing and service facilities with industrial operations in the Americas, Europe, Asia and Africa and a direct presence in most major oil and gas markets. Tenaris’s shares are listed on the Borsa Italiana (symbol: TEN.MI), the Bolsa de Comercio de Buenos Aires (symbol: TS.BA), and the Bolsa Mexicana de Valores (symbol: TS:MX) and its ADRs are listed on the New York Stock Exchange (symbol: TS).*
Edwin Reyes, Global Head of Depositary Receipts at Deutsche Bank, said, “We are delighted that Tenaris has chosen to transfer its ADR program to Deutsche Bank. We look forward to working with Tenaris in the management of its program and are committed to providing Tenaris with the highest level of service."
*Source: Tenaris (March 2013)