The Russian steelmaker Magnitogorsk Iron and Steel Works (TMK) and the country's major
pipe producer Tube Metallurgical Company (TMK) have inked a strategic cooperation memorandum.
Under the memorandum the companies have agreed to cooperate on future joint activities regarding the implementation of key technologies at
MMK and TMK, the use of
MMK's products in the
production of a new type of
pipe by TMK, and also on the terms of the future deliveries of
MMK's wide sheets for TMK's large diameter
pipe production.
In addition, the companies have agreed to conduct a joint research and development program to create new products.
MMK is the main supplier of flat rolled for TMK.