12 July 2007
July 12, 2007 Press Release
Seversky Tube Works and Corinth Pipeworks JV launches new product line
ZAO 'TMK-CPW', a joint venture between Seversky Tube Works (STW), a subsidiary
of the leading Russian steel pipe manufacturer, TMK, and 'Humbel limited' of
Cyprus, a subsidiary of the Greek pipe industry leader Corinth Pipeworks S.A.
(CPW), announced today that it has launched a new production line at the
Seversky Tube Works plant.
The JV, which was announced in January 2007 and is 51% owned by STW, produces
Electric Resistance Welded (ERW) longitudinal pipes with diameters of up to
530mm, wall thickness of between 4.8mm and 12.7mm and in lengths up to 18m as
well as special purpose pipes. These products are intended for oil and gas
companies in Russia and the CIS and for use in their rapidly developing
'TMK-CPW' JV activity is aimed at increasing TMK sales of premium products and
at satisfying the growing demand for high quality products from key industries.
Annual production capacity of this venture amounts to approximately 200 thousand
tonnes of tubular goods.
Ilias Klis, Ambassador Extraordinary and Plenipotentiary of the Hellenic
Republic to Russia, Viktor Basargin, Deputy Plenipotentiary Representative of
Russia's President in the Urals Federal District, Eduard Rossel, Governor of
Sverdlovsk region, and the JV shareholders attended the launch of the new
Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and one
of the three global market leaders. TMK supplies to companies in more than 60
In 2006, TMK sold almost 3 million tonnes of pipes.
TMK production facilities are located in Russia and Romania:
• Volzhsky Pipe Plant;
• Seversky Tube Works;
• Taganrog Metallurgical Works;
• Sinarsky Pipe Plant;
• Orsky Machine Building Plant;
• SC TMK-ARTROM SA;
• SC TMK-Resita SA.
For further information please contact:
TMK PR Department:
Tel: +7 495 775 7600 ext. 2149
Or visit: www.tmk-group.com
Corinth Pipeworks S.A.
Corinth Pipeworks S.A. is amongst the leading manufacturers of steel pipes for
the energy industry and a major hollow sections supplier to the construction
sector. The company has an annual production capacity of up to 775,000 tonnes.
Its production facilities (ERW and SAW pipe mills, coating and lining plants)
are located in Thisvi, Viotia, Greece.
Corinth Pipeworks has a broad representative & sales network worldwide. Among
its customers are leading oil & gas companies such as Chevron, Shell, BP, Total,
Public Gas Corporation of Greece (DEPA), National Iranian Gas Company, Enagas,
Gaz de France, Transgas, BG, National Grid, Sonatrach, SCOP Iraq, Duke Energy,
Panhandle Energy, Enbridge, Cheniere Energy, PDO, Oman Gas Company, and GASCO.
For additional information:
Corinth Pipeworks S.A. corporate website - www.cpw.gr
This information is provided by RNS
The company news service from the London Stock Exchange