HISTORY

TMK was established in 2001. At the beginning of 2002 TMK and two Russian pipe manufacturers (Volzhsky Pipe Plant and Seversky Tube Works) concluded an agreement by which TMK rendered services (including strategic planning and coordination of activities, production development, technical, marketing, sales, financial and economic policies) to these enterprises.

TMK concluded a Management Agreement with Taganrog Metallurgical Works in July 2002 and with Sinarsky Pipe Plant in March 2003. As a result, TMK took over management of the four leading manufacturers in the domestic pipe industry.

TMK sales were centralised under a 100%-owned subsidiary, Trade House TMK, which coordinates sales of the pipe products and procures raw materials for the plants. An important part of its activities is the development of tubular goods exports, for which a sales network was created. In 2002, a Trade House TMK representative office was opened in Azerbaijan, TMK-Kazakhstan, a subsidiary of Trade House TMK, was established a year later in 2003. In 2005, a Trade House TMK representative office was opened in China and was followed by openings in Turkmenistan and Singapore in 2007. TMK Warehouse, a subsidiary of Trade House TMK, has been distributing products in the Moscow region since 2004.

Since 2003, Ernst & Young has been the official auditor of TMK.

Early in 2004 TMK acquired controlling interests in all pipe plants that operate under its management. As result of certain changes introduced to the management structure of these businesses, TMK became the sole executive body of each of these plants.

In May 2005 TMK acquired a 100% ownership interest in SINARA Trading AG (now TMK Global AG).

In June 2005 CJSC TMK was reorganised into an Open Joint Stock Company TMK, Strategic Investment Programme of the Company was formulated and Independent Members of the Board of Directors were elected for the first time. 

In March 2006 ТМК acquired TMK Europe GmbH (Germany) which owns the controlling share holdings of two Romanian enterprises – Steel Tubes Enterprise SC Artrom SA (now SC TMK-ARTROM SA) and Integrated Iron and Steel Work SC Combinatul Siderurgic Resita (now SC TMK-Resita SA).

In November 2006 TMK GDRs and ordinary shares were listed on London Stock Exchange and Russian Trading System respectively.

In February 2007 TMK acquired all of the ordinary shares in Orsky Machine Building Plant (OMZ) located in Orsk, in the Orenburg Region. The shareholding represents 75% of the authorised capital stock of the company. The authority of the sole executive body of OMZ has also been transferred to OAO TMK.