TMK, one of the world’s leading producers of pipe for the oil and gas industry, announces a 5-10% increase in prices for some of its tubular products under new contracts starting from April 1, 2014.
The rationale behind TMK’s decision is the rise in prices of flat products sourced by the Company from the Russian steel producers, and in prices of ferroalloys used in the production of pipe steel grades.
TMK ( www.tmk-group.com )
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for the oil and gas industry, operating 28 production sites in the United States, Russia, Canada, Romania, Oman, UAE, and Kazakhstan and two R&D centers in Russia and the USA. In 2013, TMK’s pipe shipments totaled 4.3 million tonnes. The largest share of TMK’s sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing.
TMK’s securities are listed on the London Stock Exchange, the OTCQX International Premier trading platform in the U.S. and on the Moscow Exchange MICEX-RTS.
TMK’s production assets structure:
Ø Russian division:
|
Ø American division:
Ø European division:
Ø Middle East Division:
|