Russia: TMK gets new CEO

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…

Russia: TMK and Novatek sign Strategic Partnership and Cooperation Agreement

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…

Russia: TMK revenue down in Q1 2019

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…

Russia: TMK postpones Artrom SPO

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…

Russia: TMK sales down in Q1 2019

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…

Russia: TMK-Inox to increase stainless pipes output

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)

Russia: S&P places TMK’s rating on list for possible upgrade

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)

Russia: Moscow Exchange suspends trade in ordinary TMK shares

The Moscow Exchange switched trade in ordinary shares of pipe producer TMK into a discreet auction mode after the stock jumped by over 20% within 10 minutes, the bourse said in a statement.

On March 22, TMK agreed to sell its U.S. subsidiary IPSCO Tubulars to Tenaris for $1.209 billion. (Prime/Ukrainian metal)

Russia: TMK expecting stable pipes demand

In 2019-2022 demand for large diameter pipes in Russia will remain at the level of 1.9-2.1 million tons. According to TMK, last year pipe consumption grew by 25%, to some 2 million tons. Gazprom will be the main buyer, accounting for 63-66% of all purchases. The second largest consumer – the state company Transneft –…

Russia: TMK Q4 2018 IFRS EBITDA up

Earnings before interest, taxes, depreciation and amortization (EBITDA) of pipe producer TMK increased by 9% QoQ, to $179 million, while revenue grew by 5%, to $1.264 billion in October-December 2018, as calculated under International Financial Reporting Standards. The gross profit rose by 1%, to $224 million, while the EBITDA margin remained unchanged at 14%, it…

Russia: MMK metal shipments to TMK up in 2018

The meeting of the coordinating council of Magnitogorsk Iron and Steel Works (MMK) and TMK was held in Magnitogorsk. The representatives of both companies reviewed their joint work in 2018 and discussed future collaboration. According to the results of 2018, 504,600 tons of MMK’s flat steel products were shipped to TMK’s pipe mill. This represents…

Russia: MMK increases rolled metal deliveries to TMK

Magnitogorsk hosted a meeting of the MMK and TMK coordination council.

The parties have discussed the results of the operation in 2018 and plans of further cooperation.

In 2018 TMK pipe enterprises received 504.6 thousand tons of MMK flat rolled metal, up by 10% YoY. (Ukrainian metal)

Russia: TMK pipes sales up in 2018

In 2018 TMK increased steel pipes sales by 6% YoY, to 4.01 million tons.

Seamless pipes accounted for 2.767 million tons, up by 3%.

The sales of welded pipes grew by 11%, to 1.243 million tons. (Ukrainian metal)

Russia: TMK pipes sales up in 2018

In 2018 TMK sold 4.01 million tons of pipes, up by 6%, mostly due to the growth of OCTG seamless pipe sales in Russia. The volume of seamless pipe sales grew by 3%, to 2.767 million tons. The sales of welded pipes increased by 11%, to 1.243 million tons, and of OCTG pipes also by…

Russia: two TMK plants get RZhD preferences

Russian Railways announce another decrease of tariffs for the transportation of ferrous metals and other goods. From January 1 till December 31, 2019 some Ural metal plants will get special tariff conditions. In particular, RZhD is introducing a 47% discount on inner transportation of ferrous rolled metals from the Polevskaya station to the Kamensk-Uralsky station.…

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…