OAO "TMK", one of the world’s largest oil and gas pipe producers, reached an agreement to acquire 100% of share capital in OOO "Truboplast." The consolidation of "Truboplast" into TMK’s structure is planned to be completed by the end of 2007. OOO "Truboplast" is one of Russia’s largest producers of protective coatings for steel pipes used in the oil and gas industry.
The company possesses the latest technology for applying exterior and interior protective coatings on steel pipes and pipe fittings for oil and gas pipelines. The company’s equipment allows for the coating of approximately 2,000 linear kilometers per year of pipes with diameters ranging from 57 to 720 mm, such as tubing, drill pipes, casing, line pipes and large diameter pipes.
Truboplast produces one-, two-, and three-layered exterior coatings, thermo-hydro insulated coatings, and interior protection for the inner part of the weld. Truboplast products are used by major Russian and international oil and gas companies. With the increasing complexity of oil and gas drilling conditions, the application of high-quality anticorrosive coatings becomes vital.
The acquisition of OOO "Truboplast" will give TMK the largest pipe coating capacity in Russia, further strengthening its position in the oil and gas pipe market and increase its share of high value-added premium products. With the development of the oil and gas sector in Russia, a key player in the global energy market, developing oil and gas services has become a priority for TMK in the medium-term perspective.
OAO "TMK" acquires pipe coating producer OOO "Truboplast"
By Tim Wright
Published August 29, 2007
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