TMKS.L Regulatory News (TMKS)

12 Sep 2007 12:36

OAO TMK12 September 2007 Moscow, September 12, 2007 PRESS RELEASE TMK's First Shipment of New Pipe Range ZAO "TMK-CPW", a joint venture between Seversky Tube Works (STW), a subsidiaryof the leading Russian steel pipe manufacturer, TMK, and "Humbel limited" ofCyprus, a subsidiary of the Greek pipe industry leader Corinth Pipeworks S.A.(CPW), announced today that it has delivered its first shipment of a new piperange to the Rosneft Oil Company, the first to order this new product from the"TMK-CPW" JV. Rosneft received about 2 thousand tonnes of 15 meter electric resistance welded(ERW) longitudinal pipes with 325mm diameter and 10mm wall thickness made oflow-alloyed steel. TMK's logistics team also successfully resolved the transportation issuesassociated with the length of the product. This new pipe range can have up to18m in length, as opposed to the standard 12m, making them difficult totransport. The "TMK-CPW" JV was launched at the Seversky Tube Works in July 2007 andproduces ERW longitudinal pipes for oil and gas companies in Russia and the CIS.It also produces other tubular goods used in the rapidly developing constructionindustry. The JV annual production capacity amounts to approximately 200thousand tonnes of tubular goods. "This first TMK-CPW shipment allows us to enter a new market segment. It is thefirst time the company has produced ERW longitudinal pipes intended first andforemost for the oil and gas industry. We forecast further growth in sales ofthis type of product and we see good prospects for strengthening TMK's marketposition. The JV's production will also increase the company's share of premiumproducts," said TMK's CEO, Konstantin Semerikov. OAO "TMK" Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and oneof the three global market leaders. In 2006, TMK sold approximately 3 million tonnes of pipes. TMK supplies tocompanies in more than 60 countries. TMK production facilities are located in Russia and Romania: • Volzhsky Pipe Plant; • Seversky Tube Works; • Taganrog Metallurgical Works; • Sinarsky Pipe Plant; • Orsky Machine Building Plant; • SC TMK-ARTROM SA; • SC TMK-Resita SA. For further information please contact: TMK PR Department: Sergey Ilin Tel: +7 495 775 7600 ext. 2149 Email: pr@tmk-group.com Or visit: www.tmk-group.com This information is provided by RNS The company news service from the London Stock Exchange