The Board of Directors of Chelyabinsk Pipe Rolling Plant has approved the company’s development strategy for the period through 2024 and nominated two independent directors for approval by the shareholders meeting. The new strategy seeks to ensure consistent and strong business growth by transforming Chelpipe Group to a customer-centric enterprise. The strategy focuses on developing…
Pipeline sales of Russia’s Chelyabinsk Pipe Plant (ChelPipe) rose by 8%, to 2.07 million tons in 2019, the company said in a statement on February 13. Sales of large-diameter pipes went up by 33%, to 916,000 tons. Sales of seamless industrial pipes grew by 11%, to 498,000 tons, of oil country tubular goods by 3%,…
Metalloinvest and ChelPipe Group held their 36th Coordination Council meeting at the Chelyabinsk Pipe Rolling Plant (a part of ChelPipe Group). Experts from the two companies discussed production and commercial issues, outlined further steps in their cooperation strategy around product quality improvement and highlighted the positive impact of the modernization of equipment at the Sheet…
Chelyabinsk Pipe Plant (ChelPipe) does not rule out the placement of its shares on the market in the future, an official reported. “ChelPipe is considering a market offering of the shareholder equity in the future as one of the scenarios but a final decision has not been made, it will depend on several factors, including…
Chelyabinsk Pipe-Rolling Works and Baotou Steel (China) will construct a mining and processing works in the Irkutsk region. The companies have already signed a corresponding agreement. The GOK will be constructed at the Zashikhinskoye rare-earth metals deposit. The first stage is expected to process 250 thousand tons of ore, and with the third stage completed…
Magnitogorsk Iron and Steel Works (MMK) and Chelyabinsk Pipe-Rolling Plant (ChelPipe) held their 25th coordination council, dedicated to cooperation between the two companies. The meeting was attended by MMK Deputy General Director for Sales Sergey Ushakov, Director for Procurement and Logistics of ChelPipe Alexey Talnikov, as well as representatives of the technical, production and commercial…
The net profit of Chelyabinsk Pipe-Rolling Plant, or ChelPipe, fell by 26% YoY, to 4.179 billion rules in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue from sales decreased by 9.6%, to 85.84 billion rubles, gross profit slid by 0.8%, to 23.288 billion rubles, and the pretax profit dropped by…
Chelyabinsk Pipe-Rolling Plant (ChelPipe) posted a net profit of 6.927 billion rubles in January-June against a net loss of 864.754 million rubles in the same period of 2017, as calculated under Russian Accounting Standards (RAS), the company said in a report. Revenue increased by 33%, to 71.921 billion rubles. The company posted a 7.862 billion…