MMK and TMK ink cooperation memorandum

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.