Tenaris Provides Update on Luxembourg 1929 Regime Status.LUXEMBOURG -- Tenaris S.A. (NYSE NYSE See: New York Stock Exchange :TS) (BCBA BCBA Board Certified Behavior Analyst BCBA Baltimore County Bar Association (Towson, MD) BCBA Building Code Board of Appeals BCBA Barnstable County Beekeepers Association (Massachusetts, USA) :TS) (BMV BMV Bolsa Mexicana de Valores BMV Bureau of Motor Vehicles BMV Bundesministerium für Verkehr (German: Federal Ministry of Transport) BMV Below Market Value BMV Brome Mosaic Virus BMV Bedside Medication Verification :TS) (BI:TEN) announced today that, following a previously announced decision by the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community , the Grand-Duchy of Luxembourg has terminated its 1929 holding company regime, effective January 1, 2007. However, under the implementing legislation, pre-existing publicly listed companies - including Tenaris - will be entitled to continue benefiting from their current tax regime until December 31, 2010, irrespective of any share transfers that may occur within that period. Tenaris is the world's leading manufacturer of tubular products and services for the oil and gas industry and a leading supplier of tubular products and services used in process and power plants and in specialized industrial and automotive applications. |
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