The largest pipe manufacturer in the world acquires a competitor

This will be the largest pipe market consolidation in history. Russian TMK takes over its domestic competitor, Chelyabinsk Pipe Rolling Plant, which accounts for 11% of steel pipe production in Russia. The main products are welded large diameter pipes (diameter 530-1220 mm), seamless large diameter pipes (diameter 245-550 mm), seamless large diameter pipes (diameter 245-550 mm). 550 mm), small diameter seamless pipes. pipes with a diameter of 108–169 mm and seamless cold-worked (diameter 89–426 mm). Its main owner will receive about $ 1.25 billion for this.

The Russian authorities have already approved the takeover. The new venture will focus on the domestic market. Competition among pipe manufacturers is very fierce.

TMK agreed to buy 86.54%. in a Chelyabinsk company from its main shareholder Andrey Komarov. He will pay 84.2 billion rubles for them, or about $ 1.25 billion.