Romania-based TMK-ARTROM, a subsidiary of Russia's biggest oil and gas pipe producer TMK, has announced that it has commenced production of pipes used in the automotive industry and in hydraulic cylinder manufacturing.
According to the company's statement, the pipes produced by the company will be sourced to manufacture hydraulic cylinders widely used in hoisting machinery, sophisticated industrial equipment, and in the automative and aircraft industries. By expanding to new markets, TMK-ARTROM is expected to have a capacity of 25,000 mt of pipes per year.
"Since TMK started operations in Romania, the overall investments in TMK-ARTROM's production capacities have exceeded €200 million. Launching the production of pipes for hydraulic cylinders is yet another step for TMK's European Division towards gaining a foothold in new markets as a manufacturer of value-added products for the engineering industry. It clearly illustrates TMK's business approach and ambition to constantly drive up the share of high-tech tubular products in its overall shipment volumes. It will also create new jobs and boost both local and nationwide tax receipts. We would like to thank the government of Romania for implemented measures to improve investment climate in the country," stated Alexander Shiryaev, CEO of TMK.