23/08/19 18:47 MOEX (RUR): 53.00 change in % -1.90 LSE (USD): 3.28 change in % -0.15

TMK and RUSNANO expand high-tech pipe production


TMK, one of the world's leading producers of tubular products, and state owned RUSNANO Corporation are running a joint project at TMK’s Seversky pipe plant to expand the production of high-tech pipe with improved performance for the oil and gas industry. RUSNANO has invested RUB 5.5 bln in the project, and TMK's investment has amounted to at least RUB 12.5 bln. To execute the project, RUSNANO acquired shares in TMK's additional public offering and now owns a 5.476% share in the Company.

"The new project will help us expand the product range of oil and gas pipes that meet and often exceed the strictest international quality standards in terms of physical, chemical and geometrical properties. The innovative pipes we produce at our Seversky pipe plant within the joint project with RUSNANO can be used in adverse climate and geological conditions, in horizontal and deep-hole drilling," said Alexander Shiryaev, TMK CEO.

TMK and RUSNANO expand high-tech pipe production


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