PAO TMK (“TMK” or “the Group”), one of the world’s leading producers of tubular products for the oil and gas industry, today announces its interim consolidated IFRS financial results for three months ended March 31, 2019.
TMK, one of the world’s leading producers of tubular products for the oil and gas industry, announces that its Romanian subsidiary TMK-ARTROM S.A. published its interim condensed consolidated and separated financial statements for the three months ended 31 March 2019 on 22 April 2019. The financial statements are unaudited. They are available at:
March 22, 2019 – PAO TMK announces that it has signed the Stock Purchase Agreement with Tenaris, a manufacturer of seamless and welded pipe, for the sale of 100% of the shares of IPSCO Tubulars Inc. for an aggregate, cash free, debt-free price of US$ 1,209 million, which includes $270 million of working capital. The completion of the transaction is subject to the fulfillment of the conditions precedent in accordance with the Stock Purchase Agreement including, inter alia, the obtaining of all necessary permissions and approvals.