Russia's United Metallurgical Co. (OMK), a manufacturer of steel pipe for the oil and gas market, has acquired a Texas-based OCTG finishing plant with an annual capacity of 150,000 metric tons.
According to a statement Thursday from OMK, the TTS plant is the Russian company's first US acquisition, and the deal officially closed in 2011. Global news sources also reported that OMK has already commenced construction on a 200,000 ton-per-year OCTG steel mill expected to be operational by 2013. OMK is a major pipe supplier to companies such as Exxon Mobil Corp. and previously exported OCTG from Russia to the US.