Tenaris will be reducing its workforce in Calgary, Alberta, due to the abrupt, sharp decline in the price of oil, a subsequent decrease in market activity, and continued illegal dumping of steel pipe imports. Employees at Tenaris’s Prudential facility have been informed that layoffs will take place on July 8, 2020 and will affect approximately 135 employees. This will result in a temporary production disruption as the reduced market demand takes longer to consume existing inventories.
“The situation the oil and gas industry is facing right now is truly unprecedented. We are having to take some difficult measures to temporarily reduce our workforce in Canada in order to maintain a long-term solid position so we can continue contributing to a healthy domestic manufacturing industry in Canada and to serve our customers,” said Ricardo Prosperi, Tenaris Canada President. “Despite these challenges, we remain dedicated to domestic manufacturing in Canada to ensure the oil and gas industry has access to high quality made-in-Canada steel pipe products.”
Tenaris continues to work with the rest of Canadian industry and governments to defend against the high level of imports, the important role of a Canadian manufacturing supply chain for essential goods and to help get Canada’s energy to market.
Tenaris is a leading global manufacturer and supplier of steel pipe products and related services for the world’s energy industry and other industrial applications. Our customers include most of the world’s leading oil and gas companies and our revenues amounted to US$7.3 billion. Employing around 23,000 people worldwide, we operate an integrated network of steel pipe manufacturing, research, finishing and service facilities with industrial operations in the Americas, Europe, the Middle East, Asia and Africa and a direct presence in most major oil and gas markets. In Canada, Tenaris operates manufacturing facilities in Calgary, AB, Nisku, AB, Red Deer, AB, and Sault Ste. Marie, ON, with service centres in Grand Prairie, AB, Sherwood Park, AB, and Bienfait, SK.