January 23, 2015 Press Release
TMK and RUSNANO expand high-tech pipe production
TMK, one of the world's leading producers of tubular products, and state owned RUSNANO Corporation are running a joint project at TMK's Seversky pipe plant to expand the production of high-tech pipe with improved performance for the oil and gas industry. RUSNANO has invested RUB 5.5 bln in the project, and TMK's investment has amounted to at least RUB 12.5 bln. To execute the project, RUSNANO acquired shares in TMK's additional public offering and now owns a 5.476% share in the Company.
"The new project will help us expand the product range of oil and gas pipes that meet and often exceed the strictest international quality standards in terms of physical, chemical and geometrical properties. The innovative pipes we produce at our Seversky pipe plant within the joint project with RUSNANO can be used in adverse climate and geological conditions, in horizontal and deep-hole drilling," said Alexander Shiryaev, TMK CEO.
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TMK (www.tmk-group.com)
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for the oil and gas industry, operating 28 production sites in the United States, Russia, Canada, Romania, Oman, UAE, and Kazakhstan and two R&D centers in Russia and the USA. In 2014, TMK's pipe shipments totalled 4.4 million tonnes. The largest share of TMK's sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing.
TMK's securities are listed on the London Stock Exchange, the OTCQX International Premier trading platform in the U.S. and on the Moscow Exchange MICEX-RTS.
TMK's assets structure by division:
Russian division:
Volzhsky Pipe Plant;
Seversky Tube Works;
Taganrog Metallurgical Works;
Sinarsky Pipe Plant;
TMK-CPW;
TMK-Kaztrubprom;
TMK-INOX;
TMK-Premium Service;
TMK Oilfield Services.
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American division:
12 plants of TMK IPSCO;
OFS International LLC.
European division:
TMK-ARTROM;
TMK-RESITA.
Middle East Division:
TMK GIPI (Oman);
Threading & Mechanical Key Premium LLC (Abu-Dhabi).
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TMK Corporate Communications
Ilya Zhitomirsky
Tel: +7 (495) 775-7600
E-mail: pr@tmk-group.com
