26 Jul 2017 19:32

Mountrise Limited to buy 49.9% of Eterno JV from Rosnano, to close deal by end-Q3

MOSCOW. July 26 (Interfax) - The company Mountrise Limited, the controlling shareholder of Chelyabinsk Tube Rolling Plant (ChelPipe), will buy 49.89% of the Eterno JV from Rosnano, according to a statement by Rosnano.

The deal will be closed by the end of Q3 2017.

As reported earlier, the minimal price has been valued at 4.72 billion rubles. Rosnano did not specify in its statement what the final price of the purchased shares was.

The Eterno plant was built for the production of pipe connectors using nanostructured materials. It produces stamp-welded pipe joints (SWPJ), mainly, pipe bends and T-joints for pipe branching, as well as pipe seal fittings and pipe adapters.