Russia: TMK to supply Gazprom with 21 billion rubles worth of LDP

Gazprom has ordered TMK the delivery of 255.01 thousand tons of large diameter pipes valued at around 21.5 billion rubles.

The purchase documentation says that according to the order of Gazprom, an auction is not necessary when buying goods or services from the sole supplier. (Ukrainian metal)

Russia: TMK supplies casing pipes to Gazprom

The Pipe Metallurgical Company has shipped a batch of corrosion-resistant casing pipes of 13Cr steel with TMK UP PF joints to Gazprom to be used at the Kirinskoye deposits.

The pipes have been successfully lowered to the shafts.

The first deliveries of TMK pipes to the deposits were carried out in 2015. (Ukrainian metal)

Russia: TMK not allowed to buy Technomash

The Federal Antimonopoly Service of Russia has rejected the offer of the Pipe Metallurgical Company to buy 100% of the “Tekhnologii bureniya” Company, owned by Hilong Energy (China). The FAS believes the deal will limit competition on the Russian market of drilling pipes. TMK is the largest manufacturer of drilling pipes in Russia – in…

Russia: TMK to develop innovative pipes for Gazprom

Chairman of Pipe Metallurgical Company Dmitriy Pumpyanskiy and chairman of Gazprom Alexei Miller have signed a roadmap to develop pipe products with integrated registering, processing and commuting components. TMK will produce for Gazprom innovative large diameter pipes with built-in sensors to control pressure, temperature and deformations in real-time mode. The pipes will be specially marked…

Russia: TMK revenue up in H1 2018

In Q2 TMK received $1.355 billion, up by 6% QoQ.

Revenue in H1 grew by 28% YoY, to $2.628 billion.

EBITDA in Q2 increased by 23% QoQ, to $197 million and by 30%, to $357 million in H1.

The company net debt as of June 30 totaled $2.715 billion. (Ukrainian metal)

Russia: TMK pipes sales up in Q2 2018

In April-June TMK sold 1.075 million tons of pipes, up by 10% QoQ. In H1 the combined pipe sales grew by 14% YoY, to 2.056 million tons, mostly because of the sales growth in America. TMK retains its forecast for this year unchanged and expects OCTG pipes demand in Russia to remain on the high…

Russia: TMK to pay 2.355 billion rubles of dividends

Pipe Metal Company has held an annual meeting of the shareholders.

According to the company statement, it was decided to distribute 2017 net profit as dividends of 2.28 rubles per ordinary share for the total amount of 2.355 billion rubles.

Ernst & Young was selected as the company auditor. (Ukrainian metal)

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)