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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. For more information please visit www.tmk-group.com Posted June 16, 2008 |
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