The Pipe Metallurgical Company, one of the world's leading producers of pipes for the oil and gas sector, is selling non-core assets to reduce debt.
TMK announced that it had sold its scrap metal recycling subsidiary TMK CHERMET for RUB 6.2 billion, which is about US $ 104.75 million.
TMK notes that the purchase and sale transactions will not affect the vertical supply chain and will continue to supply scrap metal in a competitive market.
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