Russian steel pipe producer TMK has plans to sell all of its 96 percent stake in the Chelyabinsk Metal Structures Plant (ChZMK) to local company Taimyr Engineering LLC for RUB 5.2 billion ($64.35 million), according to local media reports. Accordingly, the process is aimed at improving corporate structure efficiency and enhancing financial sustainability across TMK’s operations.
As part of the restructuring, TMK has introduced a set of measures designed to protect the rights and interests of ChZMK bondholders. The company emphasized that all obligations under current bond issues will be maintained, ensuring uninterrupted payments and compliance with the existing terms.
ChZMK manufactures steel structures for industrial and civil construction, metal structures, and tubular products for the oil and gas industry.
