On June 12, 2008 TMK acquired the U.S. companies and assets of IPSCO Tubular’s business.
PROFILE
OAO TMK (TMK) is Russia’s largest manufacturer and exporter of steel pipes and ranks among the global top three pipe producers. TMK GDRs and ordinary shares are traded on the London Stock Exchange (ticker TMKS), Russian Trading System and Moscow Interbank Currency Exchange.
TMK was founded in 2001 and has production plants in Russia, Romania, the United States, and Kazakhstan. TMK includes the Volzhsky, Seversky, Sinarsky, and Taganrog plants in Russia and TMK-Artrom and TMK-Resita in Romania. In 2008, TMK entered the US market with the acquisition of IPSCO Tubulars and NS Group. Renamed TMK IPSCO, it includes ten assets in the Eastern and Central United States. In July 2008, TMK strengthened its foothold in the CIS with the purchase of Kazakhstan-based Kaztrubprom, specialised in finishing and threading operations.
In 2008, TMK consolidated Orsky Machine Building Plant, Truboplast, TMK Central Pipe Yard and TMK Pipe Maintenance Department into a specialised division - TMK Oilfield Services
In 2007, TMK sold over 3 million tonnes of pipe products. Total consolidated net sales in 2007 grew to U.S. $4.18 billion, and EBITDA stood at U.S. $932 million, compared to U.S. $3.40 billion and U.S. $548 million, respectively in 2006.
For 2008, TMK expects revenues to surpass U.S. $ 6 billion and EBITDA to be over U.S. $ 1 billion.
Through the consolidation of its production assets, TMK has created an up-to date technological complex based on advanced scientific research, manufacturing high-quality competitive products. Its unique production and service capabilities allow it to meet the orders and demands of a wide range of costumers and provide effective solutions to their operational and production needs.
