Serbia’s Hefestos Capital acquires Romania-based TMK Artrom

Tuesday, 24 January 2023 15:13:38 (GMT+3)   |   Istanbul
       

Serbia-based investment company Hefestos Capital has acquired steel pipe manufacturer TMK Artrom, a Romanian subsidiary of Russian steel pipe producer TMK, according to media reports.

Following the completion of the transaction, the company has been renamed Artrom Steel Tubes. 

Dmitry Pumpyanskiy, the former owner of the company, was subject to Western sanctions, resulting in the blocking of the accounts of the company. However, in the summer of 2022, after the signing of the acquisition agreement, the company’s accounts were unblocked. 

Artrom Steel Tubes (TMK Artrom), which has an annual seamless pipe production capacity of 200,000 mt, will now be able to resume its development programs which were postponed due to the pandemic and the war in Ukraine, and will  be able to continue its operations.


Similar articles

Local Chinese steel pipe prices mostly decline

28 Mar | Tube and Pipe

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News