TMK-ARTROM (Slatina, Romania), a TMK subsidiary, has commissioned a new Workshop to produce precision pipes used in the automotive industry and hydraulic cylinder manufacturing. The opening ceremony was attended by Romanian state secretary of economy Popa Maricel, and local authorities of Slatina municipality.
One of the leading manufacturers of seamless mechanical pipe in Europe, Romanian TMK-ARTROM has been the driving force behind TMK’s European Division ever since it became a TMK subsidiary. The company exports almost 85% of its total output in more than 50 countries all over the world.
With its cutting-edge equipment, the Workshop is set to process the inner surface of cold-deformed seamless pipes by way of skiving and rolling burnishing. The products made by the Workshop will be sourced to manufacture hydraulic cylinders widely used in hoisting machinery, sophisticated industrial equipment, automotive and aircraft industries, thus TMK-ARTROM is ready to expand to new markets. The Workshop total treatment capacity stands at 25,000 MT of pipes per annum.
“Since TMK started operations in Romania, the overall investments in TMK-ARTROM’s production capacities exceeded 200 MM Euros. 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. The Workshop 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,” said Alexander Shiryaev, CEO TMK.
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for oil and gas industry, operating more than 30 production sites in the United States, Russia, Canada, Romania, Oman, UAE, and Kazakhstan and two R&D centers in Russia and the USA. In 2014, TMK’s pipe shipments totalled 4.4 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.