TMKS.L Regulatory News (TMKS)

28 Sep 2007 13:59

OAO TMK28 September 2007 -------------------------------------------------------------------------------- Moscow, September 28, 2007 PRESS RELEASE TMK to Purchase TNK-BP Service Assets OAO "TMK" (TMK), one of the world's largest oil and gas pipe producers and themarket leader of the Russian pipe industry, today announces that it will acquireservice assets from Russian oil and gas giant TNK-BP. This acquisition is partof TMK's strategy to develop oil and gas services and provide customers withadditional benefits. The deal should be completed before the end of 2007. TMK won the tenders conducted by TNK-BP in August/September of this year andwill acquire the OOO "Central Pipe Base", the ZAO "Pipe Repair Department" andthe building complex under construction in the vicinity of Nyagan. These service companies specialise in the repair of tubing pipes, piston rodsand pipe coatings, the manufacturing of pipe column sections and other downholeequipment. The companies also provide transportation services for tubular goodsto oil field sites located in the Urals-Volga and Western-Siberian oil and gasregions. Once this transaction is completed, TMK plans to develop the companies byexpanding their service offerings and completing the construction of the Nyaganbuilding complex. The modernisation of the service assets will increase theircumulative repair and finishing capacity to about 1 million seamless pipes peryear. "TMK is the world's second largest manufacturer of pipes for the oil and gassector and it not only looks for additional profits from manufacturing and salesof tubular goods but also from the expansion of services offered to oil and gascompanies. This purchase from TNK-BP will allow us to enter the untapped marketof services, logistics and supply management in oil and gas regions , said 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; • Truboplast • 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