15 Apr 2019 17:32

Rosatom, TMK agree on cooperation in projects in Russia, abroad

MOSCOW. April 15 (Interfax) - Rosatom and TMK have defined priority areas for joint work in the spheres of import substitution and the implementation of projects in Russia and abroad, the corporation said at the ceremony where they signed the cooperation agreement.

"The parties agreed to cooperate in the production and application of high-tech pipe products, including joint development of new types of steel pipes," Rosatom said.

"The agreement provides for the implementation of a roadmap for cooperation, which envisages the exchange of information on the needs and interest in existing and future products, the formation of a list of R&D activities, and the use of the scientific, technical and production potential of TMK and Rosatom State Corporation within the framework of strategic areas of cooperation," it said.

TMK is Russia's largest pipe producer and one of the top three pipe companies in the world. It has about 30 plants in Russia, the United States, Canada, Romania, Oman, the United Arab Emirates, and Kazakhstan, and two research centers in Russia and the U.S.

TMK's principal beneficiary is the chairman of its board of directors, Dmitry Pumpyansky. The company's free float is 34.9%. Ronano holds a minority stake (5.3%).