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Tenaris and PCC Energy Group Sign Milestone Contract With ADGDC

DUBAI, United Arab Emirates and PORTLAND, Ore., April 3, 2012 (GLOBE NEWSWIRE) -- Tenaris and PCC Energy Group, a business of Precision Castparts Corp., have been awarded a major contract to supply 7" and 5 ½" Range-3 Corrosion Resistant Alloy (CRA) tubing for a new project with Abu Dhabi Gas Development Company (ADGDC).

Together, the companies will supply nearly 250,000 feet of nickel casing used as tubing (Alloy 28 and 825) over the next year. The plain end pipes will be manufactured by Precision Castparts at its facility in Houston, Texas. Subsequently, the material will be threaded with TenarisHydril Blue® premium connections at Tenaris's state-of-the-art threading facility. Initial shipments are expected to begin later this summer.

This contract is the second major order since Tenaris and PCC signed their worldwide cooperation agreement late last year and further reinforces the significant synergies Tenaris and PCC are bringing to bear in support of the global oil country tubular goods (OCTG) market. 

PCC Energy Group and Tenaris, together with their partners and affiliates, can provide a complete range of CRA OCTG premium-threaded products and supply complex tubular solutions for customers anywhere in the world.

Precision Castparts Corp. is a worldwide, diversified manufacturer of complex metal components and products.  It serves the aerospace, power, and general industrial markets.  PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, and forged components used in jet aircraft engines and industrial gas turbines.  The Company is also a leading producer of highly engineered, critical fasteners for aerospace and other general industrial markets, and supplies metal alloys and other materials to the casting and forging industries.

The Precision Castparts Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8204

Tenaris is a leading global manufacturer and supplier of steel pipe products and related services for the world's energy industry and for other industrial applications.

CONTACT: Stefania Argento
         Tenaris Media Relations
         sargento@tenaris.com
         mediarelations@tenaris.com
         (39) 02 43847426 ph
         (39) 335 5476223 mobile
         
         Dwight Weber
         Director of Communications
         Precision Castparts Corp.

         (1) 503.946.4855 ph

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