TMKS.L Regulatory News (TMKS)

30 Jan 2007 08:00

OAO TMK30 January 2007 January 30, 2007 TMK and Corinth Pipeworks S.A. set up joint venture Seversky Pipe Plant (SPP), part of TMK, and HUMBEL Limited, the 100% subsidiaryof Corinth Pipeworks S.A., the largest pipe manufacturer in Greece, haveregistered a joint venture (JV) named ZAO "TMK-CPW" in Polevskoy town(Sverdlovsk region, Russia). SPP owns 51% of the shares in the JV, with HUMBELowning the remaining 49%. The JV involves the installation of high-performance pipe welding equipmentpresently owned by the Greek partners at a production site of SPP. Thisequipment is designed for the production of longitudinal welded pipes with adiameter of 168 to 530mm, wall thickness of 4.8 to 12.7mm, and lengths up to 18mwith hollow sections complying with the international quality standards. JV "TMK-CPW" is scheduled to start production in the second quarter of 2007and is expected to reach sales of over 200,000 tonnes of pipes annually. The JV will satisfy the growing needs of the largest Russian and CIS oil and gascompanies for pipes used in the production and transportation of oil and gas, aswell as the growing needs of the construction industry. The creation of the JV is another strategic move for TMK towards ensuring alarger share of high value products in the Company's product mix. CPW' s participation is part of its global strategy for presence in the majormarkets of technically sophisticated energy solutions. OAO TMK Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and oneof the three global market leaders. TMK GDRs and common shares are traded on theLondon Stock Exchange and Russian Trading System. In 2006 the total volume of pipes shipped reached over 3 million tonnes. TMKsupplies pipes to companies in more than 60 countries. TMK production facilities are located in Russia and Romania: • Volzhsky Pipe Plant• Seversky Pipe Plant• Taganrog Metallurgical Works• Sinarsky Pipe Plant• SC TMK-ARTROM SA• SC TMK-Resita SA Useful links: TMK - www.tmk-group.com TMK's PR Department: Tel: +7 (495) 775-7600Fax: +7 (495) 775-7601E-mail: pr@tmk-group.com Corinth Pipeworks S.A Corinth Pipeworks S.A. is a major international steel pipe and hollow sectionssupplier to the Oil, Gas, Water and Construction Industries. The company has anannual production capacity of up to 700.000 tones. Its production facilities(ERW and SAW pipe mills, coating and lining plants) are located in Thisvi,Viotia, Greece. Corinth Pipeworks has a broad representative sales network worldwide. Among itscustomers are leading Oil & Gas companies such as Chevron, Shell, BP, Total,Public Gas Corporation of Greece (DEPA), National Iranian Gas Company, Enagas,Gaz de France, Transgas, BG, National Grid, Sonatrach, SCOP Iraq, Duke Energy,Panhandle Energy, Enbridge, Cheniere Energy, PDO, Oman Gas Company, GASCO. Useful links: Corinth Pipeworks S.A. - www.cpw.gr This information is provided by RNS The company news service from the London Stock Exchange