The Pipe Metallurgical Company (TMK) announces the closing of the sale of the Chelyabinsk Plant of Metal Structures (CHZMK) to an outside investor.
The decision to sell the asset was made within the framework of the company's current development strategy and in order to increase business efficiency. The deal will allow us to focus on strengthening TMK's main competitive advantages, such as the creation of innovative products and materials, the improvement of the line of high-tech pipe products, and the funds received will contribute to strengthening financial stability and the implementation of promising projects.
TMK acquired CHZMK at the end of 2022. As part of the company's mainline engineering division, the plant has mastered the production of new types of products and expanded its sales markets, becoming a supplier of metal structures and equipment for the oil and gas industry and other industries. The company has implemented a large-scale program to modernize workshops and production equipment, repair office space and improve working conditions for employees. In addition, advanced corporate governance and industrial safety practices were introduced at the plant, employees gained access to professional and personal development programs, and regularly participated in projects at TMK2U Corporate University.
TMK closes sale of Chelyabinsk Metal Structures Plant
