Pipe Metallurgical Company (TMK) has completed the acquisition of a 100% stake in the metallurgical enterprise LLC Parus, located in the city of Yartsevo, Smolensk region.
The enterprise is a modern casting and rolling complex for the production long products with a capacity of more than 300 thousand tons per year. The main products are rebar and continuous cast billet for rolling. The company demonstrates stable production, financial and economic indicators, confidently maintaining its share in the Russian valve market at 4% since 2016. By the end of 2020, the plant plans to increase the production of fittings by more than 40% compared to the same indicator last year.
The production site of Parus LLC is provided with convenient transport communications, developed engineering and energy infrastructure. The plant uses modern and environmentally efficient systems for gas cleaning and closed water supply. The company currently employs over 1,000 people.
“This acquisition is another step in the implementation of TMK's long-term strategy aimed at diversifying the company's product portfolio. Taking into account the favorable geographical location of the enterprise in the most densely populated region of Russia - the Central Federal District - TMK obtains excellent opportunities to expand the presence of the entire range of its products in the largest regional construction market in the country. At the same time, as a responsible investor, TMK plans not only to preserve production potential and highly skilled jobs, but also to introduce the best production management practices that have been successfully tested and are effectively applied at other enterprises of the company, ”said Igor Korytko, General Director of TMK.
TMK completed the acquisition of Parus LLC