TMK acquires Kazakh tubing company Kaztrubprom

Monday, 16 June 2008 15:57:39 (GMT+3)   |  
       

The Russian pipe producer TMK Group (TMK) has acquired a 100 percent stake for an undisclosed sum in Kazakhstan-based Kaztrubprom, which specializes in the threading and finishing of tubing and casting pipes used in the oil and gas industry.

Kaztrubprom has an annual production capacity of 60,000 mt.

TMK plans to increase the company's efficiency via production synergies, including shipping Russian-manufactured seamless green pipes for subsequent threading and finishing in Kazakhstan. In addition, TMK plans to increase Kaztrubprom's production and distribution flexibility as well as its product mix.

The acquisition, which is in line with TMK strategy to develop its high-tech, premium-class product segment, will also allow TMK to strengthen its position in Kazakhstan and in neighboring CIS states, such as Turkmenistan, Uzbekistan and Azerbaijan, where the oil and gas sectors are actively being developed.  


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