Russian pipe producer ChTPZ gains 100 percent control of PNTZ

Friday, 26 December 2008 16:26:40 (GMT+3)   |  
       

The Russian pipe producer Chelyabinsk Pipe Rolling Plant Group (ChTPZ) has announced the acquisition of the remaining shares in its subsidiary Pervouralsky Novotrubny Works (PNTZ) from minority shareholders. As a result of the acquisition, ChTPZ has become the owner of 100 percent of shares in PNTZ.
 
In October 2008, ChTPZ, which controlled 97.38 percent of PNTZ shares, made a purchase offer to minority shareholders to buy out the remaining 2.6 percent of shares for Ruble 727 ($25.3) per share.
 
PNTZ, which is scheduled to be commissioned in Q1 2009, will have an annual production capacity of 950,000 mt of billets for seamless pipes, and will allow ChTPZ to satisfy its 100 percent of its needs in this semi-finished material.

Similar articles

Vietnam’s Hoa Phat posts 7.0 percent decrease in sales for 2023

09 Jan | Steel News

Vietnam’s Hoa Phat posts higher construction steel sales amid rising consumption

08 Dec | Steel News

Vietnam’s Hoa Phat posts higher HRC sales in October amid better demand

07 Nov | Steel News

Vietnam’s Hoa Phat achieves highest construction steel sales this year in Sept

06 Oct | Steel News

Vietnam’s Hoa Phat’s steel sales fall in Jan-Aug

12 Sep | Steel News

Vietnam’s Hoa Phat’s steel output and sales rise in July from June

09 Aug | Steel News

Vietnam’s Hoa Phat’s steel output and sales fall in H1

07 Jul | Steel News

Vietnam’s Hoa Phat’s steel sales fall in May

06 Jun | Steel News

Vietnam’s Hoa Phat Group posts lower net profit and sales revenue for Q1

28 Apr | Steel News

Vietnam’s Hoa Phat’s steel sales rise in March

06 Apr | Steel News