16 Jun 2008 12:47
June 16 2008 PRESS RELEASE
TMK Acquires Kazakhstan Threading and Finishing Facility
OAO TMK (TMK), one of the world's top three oil and gas pipe producers, today announces that it acquired 100% share capital in Uralsk, Kazakhstan-based OOO ''Kaztrubprom''.
Kaztrubprom specialises in the threading and finishing of tubing and casing pipes used in the oil and gas industry. At present, the company's production capacity is 60 thousand tonnes of pipes per year.
This latest acquisition will allow TMK to continue increasing its output of high-technology pipes; a segment currently witnessing high demand on the global energy markets. Additionally, this new TMK asset will help strengthen the Company's position on the promising Kazakhstan market and in other CIS member states including, Uzbekistan, Turkmenistan and Azerbaijan, where the oil and gas sector is actively being developed.
TMK plans to increase Kaztrubprom's efficiency through production synergies; including shipping Russian-produced seamless green (unfinished) pipes for subsequent threading and finishing in Kazakhstan. The acquisition will also allow TMK to further increase its level of production and distribution flexibility when working with Russian oil and gas companies operating in the Southern Urals, North Caucasus and Volga region.
TMK plans to expand the finishing facility's product mix and increase production efficiency by 2011, largely focusing on the development and production of proprietary TMK Premium connections.
"This latest acquisition is part of our strategy to develop TMK's high-tech, premium-class product segments, increase sales volumes, and further expand the Company's presence on global oil and gas markets", said TMK CEO, Konstantin Semerikov.
ТМК (www.tmk-group.com)
Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and one of the three global market leaders.
In 2007, TMK shipped over 3 million tonnes of pipes. TMK supplies to companies 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
SC TMK-Resita SA
SC TMK-Artrom SA
TMK Oilfield Services
TMK-Premium Service
For further information please contact:
TMK PR Department TMK IR Department
Alexey Sotskov Alexei Ratnikov
Tel: +7 495 775 7600 ext. 2125 Tel: +7 495 775 7600 ext. 2078
Email: PR@tmk-group.com Email: IR@tmk-group.com
www.tmk-group.com