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News Breaks
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November 17, 2009
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| 12:50 EDT |  | TS |
| theflyonthewall.com: | Venezuela assumes operational control over Tavsa | | Tenaris announced that pursuant to Decree Law 6058 and Decree 6796, Venezuela, acting through PDVSA Industrial, formally assumed exclusive operational control over the assets of Tavsa, Tubos de Acero de Venezuela. Following this formal change in operational control, PDVSA Industrial has assumed complete responsibility over Tavsa's operations and management, and Tavsa's operations will thereafter be managed by the transition committee previously appointed by Venezuela. Tenaris's representatives in Tavsa's board of directors will cease in their functions, effective immediately. :theflyonthewall.com |
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