TMKS.L Regulatory News (TMKS)

14 Nov 2007 14:23

OAO TMK14 November 2007 -------------------------------------------------------------------------------- November 14, 2007 PRESS RELEASE Construction of a PQF Continuous Pipe Rolling Mill Underway at TAGMET TMK, one of the world's largest oil and gas pipe producers and the market leaderof the Russian pipe industry, today announces that construction of a new 600thousand tonne Premium Quality Finishing (PQF) continuous pipe rolling mill isunderway at its subsidiary TAGMET. This new mill will make it possible to produce high-performance 73-273 mm drill,casing, tubing and line pipes, in accordance with international standards. The German company SMS Meer, a world leader in steelmaking machinery and plants,designed the new mill and is responsible for manufacturing and supplying all thenecessary equipment. Commissioning is scheduled for 2008. Konstantin Semerikov, TMK's CEO, commented: "The main focus of our StrategicInvestment Programme is to develop and enhance our seamless pipe capacity,particularly OCTG, which we will have increased by more than 60 percent by theyear 2010. The introduction of a new PQF mill at TAGMET is an essential step inthis direction." 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; • Truboplast pipe coating company • 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