Vyksa Steel Works cuts pipe output almost a third in 7M
MOSCOW. Aug 24. (Interfax) - Vyksa Steel Works (VMZ) produced 754,000 tonnes of pipes in January-July 2012, 32.4% less than in the same period of last year, United Metallurgical Company (OMK), which controls the plant, said in a press release.
VMZ produced 354,400 tonnes of large-diameter tubes, half as much as a year previously.
VMZ is Russia's biggest pipe mill. It also produces rail carriage wheels, output of which rose 11.5% year-on-year in 7M to 491,200 tonnes.
Overall pipe production fell 43% year-on-year in July to 95,700 tonnes, including 51,100 tonnes of large-diameter pipes, down 54%. Wheel production rose 37% to 72,800 units.
Pipe production and sales fell as a number of major oil and gas projects were rounded off, the company has said. Wheel production grew thanks to a contract with Russian Railways (RZD) .
OMK is one of Russia's largest producers of pipes, railcar wheels and other metal products for energy, transport and industrial companies. OMK comprises four major enterprises in the metallurgical industry: Vyksa Steel Works in the Nizhny Novgorod region, Almetyevsk Tube Works in Tatarstan, pipe component maker Trubodetal in the Chelyabinsk region and Casting and Rolling Complex in the Nizhny Novgorod region.
