In January-June TMK decreased pipe sales by 3% YoY, to 1.989 million tons. In particular, the sales of seamless and welded pipes dropped by 3% and by 4% respectively. At the same time the sales of large-diameter pipes increased by 48%. Sales of OCTG pipes remained almost unchanged at 948 thousand tons, growing in Russia…
On June 21 the TMK board of directors held a meeting. Dmitry Pumpyanskiy has been appointed the chairman. The board also decided to elect Igro Korytko CEO, who had previously been deputy general manager on efficiency management. Alexander Shiryaev, the previous CEO, will continue working in the company as a member of the council. Moreover…
PJSC TMK and PJSC Novatek have signed a Strategic Partnership and Cooperation Agreement at the 23rd St. Petersburg International Economic Forum. Dmitry Pumpyanskiy, Chairman of TMK’s Board of Directors, and Leonid Mikhelson, Chairman of Novatek’s Management Board signed the document. The agreement outlines key policies and approaches for supplying TMK’s premium casing and tubing pipe…
In January-March, TMK EBITDA grew by 9% YoY, to $175 million. According to the company statement, revenue dropped by 1%, to $12.57 billion, with gross profit up by 6%, to $235 million. Compared to Q4 2018, EBITDA fell by 2%, and revenue by 1%, while gross profit increased by 5%. As of March 31, the…
TMK postpones the SPO of its Romanian enterprise TMK-Artrom. TMK Europe intended to place 69 million shares of TMK-Artrom or 59.3955%. Moreover, the main shareholder demanded to hold a meeting of shareholders to cancel the previous decision to increase statutory capital. SPO was announced in late April. TMK-Artrom has a 16.1% share on the seamless…
In January-March, TMK sold 966 thousand tons of pipes, down by 2% YoY and by 4% QoQ. The negative dynamics was mostly caused by the drop in sales in the American division. At the same time OCTG pipes sales increased by 4% YoY, to 481 thousand tons. This year TMK expects pipe consumption by Russian…
TMK-Inox has commissioned new machinery, in particular the line of TIG and laser welding of stainless pipes, a Surface Engineering grinder and etch tanks. In 2019-2020 the company intends to increase the output of polished welded pipes. This year it will put into operation a polishing line. (Ukrainian metal)
International rating agency S&P Global Ratings (S&P) has placed B+ long-term ratings of pipe producer TMK in foreign and local currency on the list for possible upgrade, the agency said in a statement. The rating decision followed the announcement of a sale of TMK’s affiliate in the U.S. IPSCO Tubulars. (Prime/Ukrainian metal)
