Russia’s pipe producer TMK has recently finalized the deal regarding the purchase of a 100 percent share in Parus, a company which is a modern crude steel and longs producing complex with a capacity of over 300,000 mt per year.
Rebar and continuously casted billet for further rolling are the key products supplied by Parus. Moreover, the company has been demonstrating stable financial and production results since 2016 and maintains a four percent share of Russia’s local rebar market. This year, Parus expects to increase its rebar production by 40 percent year on year, SteelOrbis has learned. “This purchase is one more step in the frame of the long term TMK strategy, aimed at the diversification of the company’s product portfolio. Taking into account the beneficial geographical location [of the newly acquired mill], TMK receives a good opportunity to increase its products’ presence in the largest regional construction market in Russia,” Igor Korytko, CEO of TMK, said in the official statement.
