On January 29, 2018, TMK fully redeemed its
Eurobonds maturing in January 2018. The
nominal value of the redeemed Eurobond was
TMK reached an agreement with Rosneft to supply 8,000 tonnes of high-tech Cr13 (13% chromium) steel tubing with TMK UP PF gas-tight premium connections.
TMK commissioned a new integrated heat treatment line for seamless pipes at TMK-ARTROM, in Romania. The facility’s treatment capacity is 165 ktpa of
TMK successfully completed testing the of its unique proprietary TMK UP KATRAN premium connection, the only connection that can be used in all Russian offshore projects at any depths and in the most challenging climatic conditions.
On February 28, 2018, Moody’s Investors Service (Moody’s) changed its outlook on TMK’s credit ratings to “stable” from “negative”, and affirmed the Company’s corporate rating at B1.
TMK and the ENERGOPROM Group signed a contract for the supply of graphite electrodes for electric arc furnaces for the period of 2018–2022. The contract has allowed TMK to cover approximately 40% of its annual needs for graphite electrodes.
On April 28, 2018, at the World Day for Safety and Health at Work, TMK summarized the results of activities held to mark the Steel Safety Day, and submitted them to the World Steel Association. The initiative aims to identify and mitigate risks associated with key workplace hazards across all the Company’s production sites.
PAO TMK’s General Meeting of Shareholders approved a final dividend for the 2017 financial year of RUB 2.28 per ordinary share.
TMK signed a number of agreements with leading international and Russian companies that specialize in digitizing business processes and rolling out digital solutions to the production floor. A trilateral agreement was signed with SAP and Ural Federal University, as well as an agreement with KPMG international consulting company, a memorandum with the German PSI Metals GmbH, and an agreement with Russia’s ER-Telecom.
TMK signed a five-year long-term agreement with JSC New Forwarding Company (part of Globaltrans Group). The New Forwarding Company will provide rail transportation of cargo to and from the Volzhsky Pipe Plant, Sinarsky Pipe Plant, Seversky Pipe Plant, as well as the Company’s service subsidiaries.
Under “the future thing” contract, TMK shipped to PJSC Gazprom a batch of corrosion-resistant casing pipes of 13Cr steel with TMK UP PF threaded connections for the Kirinsky block deposits.
TMK and PJSC Gazprom signed a technology roadmap agreement for the production of pipes with integrated recording, processing and switching components.
TMK opened its new external coating facility at
TMK IPSCO. The 250 thousand tonnes of annual
coating capacity for pipes is available in Fusion
Bond Epoxy (FBE), Abrasion Resistant Overcoat
(ARO) and other speciality coatings.
TMK shipped its first batch of casing pipe with TMK UP PF threaded connections to Sakhalin Energy Investment Company Ltd. (Sakhalin Energy). With the involvement of TMK supervisors, the pipe column was successfully launched from the Molikpak platform at the Piltun-Astokhskoye field in the Sea of Okhotsk.
Russian Prime Minister Dmitry Medvedev awarded TMK executives with the 2018 Russian Government Prize in Science and Technology for developing and
implementing a range of high-performance technologies for manufacturing next-generation, import-substituting seamless steel pipes to develop
hard-to-recover hydrocarbon reserves.
TMK signed a Stock Purchase Agreement with Tenaris, the manufacturer of seamless and welded pipe, for the sale of 100% of the shares of IPSCO Tubulars Inc. for an aggregate price of $US 1,209 million. 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.