Russia: TMK to continue exporting billets to US

The Pipe Metallurgical Company will continue supplying steel billets to the USA despite the $25 import duty. According to the company deputy CEO on strategy and corporate development Vladimir Shmatovich, TMK is trying to make the US authorities exclude its products from the list of duties. “Still, the price growth on the US market and…

Russia: TMK IFRS EBITDA up in Q1 2018

Earnings before interest, taxes, depreciation and amortization (EBITDA) of the Russian pipe producer TMK increased by 13% YoY, to $160 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 18.

Revenue grew by 35%, to $1.274 billion. (Prime/Ukrainian metal)

Russia: TMK sales up in Q1 2018

In January-March TMK sold 980 thousand tons of pipes, up by 1% QoQ and by 16% YoY. Seamless pipes sales remained almost on the level of the previous quarter, but grew by 3% YoY, to 677 thousand tons. Welded pipes sales increased by 4% QoQ and by 64% YoY, to 303 thousand tons. OCTG pipes…

Russia: TMK happy about Trump’s steel duties

Pipe Metal Company, the major pipe producer in Russia, is awaiting a positive effect for its American subsidiary IPSCO from the duties on steel and aluminum. “We believe that the duties imposed will positively affect IPSCO business, as the company does not import steel as raw materials. As to the other TMK companies, the estimation…

Russia: TMK to buy graphitized electrodes from Energoprom

Industrial group Energoprom has signed a contract with oil and gas pipe producer TMK to sell graphitized electrodes in 2018-2022, Energoprom said in a statement on March 7 without disclosing other details of the contract.

Sales of Energoprom will cover up to 40% of TMK’s demand in graphitized electrodes, the company said. (Prime/Ukrainian metal)

Russia: TMK revenue up in 2017

In 2017 Pipe Metal Company increased EBITDA by 14.2% YoY, to $605 million. According to the company statement, revenue grew by 31.6%, to $4.394 billion. TMK did not disclose the amount of its net profit. “We expect EBITDA to increase this year because of the further growth of our American division results”, TMK said. In…

Russia: TMK pays off $231 million of Eurobonds

TMK, one of the world’s leading manufacturers of tubular products for the oil and gas industry, announces full redemption of the loan participation notes due in January in the total nominal value of $231 million on January 29. The $500-million eurobonds with a coupon rate of 7.75% and a 7-year maturity were issued by TMK…

Russia: TMK pipe sales up in 2017

Russian oil and gas pipe producer TMK increased pipe sales by 10.6%, to 3.806 million tons in 2017, the company said in a statement. “The year was favorable for TMK, as the company raised sales by more than 10%. OCTG pipes were in especially high demand on our major markets, in Russia and in the…

Russia: TMK to produce new pipes for Gazprom

Saint Petersburg hosted a meeting of the Gazprom chairman Alexei Miller and TMK chairman Dmitry Pumpyansky. They discussed current issues and the prospects of cooperation development. In particular, creation of new products for Gazprom. In December 2014 Gazprom and the major Russian pipe producers signed cooperation agreements for 2015-2020. In October 2016 they were reviewed…

Russia: TMK CQMS corresponding to international standards

TMK has successfully passed the re-certification audit of the corporate quality management system for the compliance with ISO 9001:2015.

The audit has been carried out by Lloyd’s Register.

The corporative certificate for the correspondence of the TMK quality management system to ISO 9001:2015 has been granted for the next 3-year period. (Ukrainian metal)

Russia: TMK to increase pipes sales

In 2017 TMK intends to sell 3.8 million tons of pipes and in 2018 – 4.3 million tons.

According to the company first deputy CEO Vyacheslav Popov, last year TMK sold 3.5 million tons of pipes. (Ukrainian metal)

Russia: S&P improves TMK rating

S&P Global Ratings has improved the TMK rating to the Stable. The agency has also confirmed the company long-term ratings in foreign and local currency on the level of B+. “The Stable forecast shows our expectation of the company to continue making efforts to decrease the share of loan funds”, the agency said. According to…

Russia: TMK presents new strategy till 2027

PAO TMK, one of the world’s leading producers of tubular products for the oil and gas industry, presented its new ten-year strategy to 2027 and an update on performance at its 5th annual Capital Markets Day in London. The new strategy will reinforce TMK’s position as a leading supplier to the global OCTG market, the…

Russia: TMK sees US demand doubling in 2017

Russian oil and gas pipe maker TMK expects that the U.S.’ demand for the company’s products will double to around 5 million tons in 2017, Sergei Alekseyev, director for global marketing, reported. “Thanks to the U.S. market recovery demand will be about twice as high as in 2016 and will amount to around 5 million…