Annual Report 2005 - Tenaris

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Letter of principles 16. TenarisConfab
TenarisConfab has the ongoing objective of growth and self-perpetuation. This objective is pursued based on solid principles that guide the conduct of our workforce and the way the company does business. Customers Excellence in meeting our customers' needs is our major and permanent concern. In order to fulfill market expectations, we act with the utmost seriousness, responsibility, reliability and transparency. We expect no less from our employees, who are our representatives in our dealings with customers. Any commitments assumed by employees, even verbal ones, will be honored by the company. Our employees Our greatest asset is our human resources. For this reason we strive constantly to improve our team, to engage people and to maximize efficiency and effectiveness. Each individual is encouraged to be entrepreneurial and innovative. Personal growth within our organization occurs in alignment with the growth of the company itself, in function of personal and team performance. We offer better remuneration, encouraging increased efficiency rather than higher hierarchical position. We are committed to implanting a lean, responsive organization, with a minimal number of hierarchical levels, placing greater value on team work than on individual distinction. Technology We continuously strive to improve productivity using the best technology available, from our systems to the most advanced means of production and processes. Research and technological development into new products, methods, processes and solutions is a constant priority. Suppliers Tenaris is committed to considering its suppliers as partners; showing respect and commitment to common objectives based on the needs of the final customer. The practice of these principles is reflected in our success, growth and perpetuation. Profits permit new investments, attract new shareholders, generate new jobs and create new wealth which is shared in a transparent manner. They also generate taxes, which contribute to the welfare of the country through the provision of further resources in the areas of education, health, sanitation and security. The company has an overriding commitment to the health and safety of its employees and of the community, as well as to the preservation of the environment. 17. Annual Report 2005
Page 1: Annual Report 2005
Page 4 and 5: Company profile More than 60 years
Page 6 and 7: It was during this period, with the
Page 8 and 9: 8. TenarisConfab
Page 10 and 11: Highlights 10. TenarisConfab
Page 12 and 13: Message to the shareholders 12. Ten
Page 14 and 15: The segment supplying fuel tanks fo
Page 18 and 19: Business review 18. TenarisConfab
Page 20 and 21: 20. TenarisConfab On a daily basis,
Page 22 and 23: 22. TenarisConfab The graph shows t
Page 24 and 25: The challenges TenarisConfab faced
Page 26 and 27: Leading indicators 26. TenarisConfa
Page 28 and 29: Pipes 28. TenarisConfab
Page 32 and 33: 32. TenarisConfab In 2005 more than
Page 34 and 35: PRA-1 is a Petrobras project aimed
Page 36 and 37: Equipments 36. TenarisConfab
Page 40 and 41: Social action review 40. TenarisCon
Page 42 and 43: 42. TenarisConfab The quality of th
Page 44 and 45: The program modules are designed to
Page 46 and 47: In 2005, Confab invested R$5.3 mill
Page 48 and 49: Board of Directors 48. TenarisConfa
Page 50 and 51: Balance sheet 50. TenarisConfab ASS
Page 52 and 53: Income statement GROSS REVENUE Sale
Page 54 and 55: Statement of changes in financial p
Page 56 and 57: Explanatory notes 56. TenarisConfab
Page 60 and 61: Explanatory notes . 60. TenarisConf
Page 64 and 65: 64. TenarisConfab In 1991, the stoc
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66. TenarisConfab ACCOUNTS CURRENT
Page 68 and 69:
Explanatory notes 68. TenarisConfab
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Statement of cash flow 80. TenarisC
Page 82 and 83:
Report of the Independent Auditors
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Annual Report 2005 - Tenaris

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