Various sources have reported that Russian pipe producer, TMK, may be interested in buying a 40 percent stake in Poland-based pipe producer Walcownia Rur Jednosc Steel Works from the state-owned fund Towarzystwo Finansowe Silesia (TFS).
Walcownia Rur Jednosc is the pipe production facility of the Polish steelmaker Huta Jednosc. Construction works at the facility were started at the beginning of the 1980s, but have not been completed.
The value of Walcownia Rur Jednosc is estimated at $30-50 million. Furthermore, the completion of the works will also require additional investments.
The acquisition of Walcownia Rur Jednosc will not only allow TMK to strengthen its position in the European Union pipe market but will also help the company to bypass the 35.8 percent duty imposed by the EU in June of last year.