ChelPipe reduces output 15% in Q3
MOSCOW. Nov 15 (Interfax) - Chelyabinsk Tube Rolling Plant (ChTPZ) (ChelPipe) reduced pipe production 15% year-on-year in Q3 to 257,000 tonnes, the company said in a quarterly financial report to Russian Accounting Standards (RAS).
The company produced 868,000 tonnes of pipes in January-September.
It said large-diameter pipe output fell considerably in Q3 as Gazprom and Transneft rounded projects off, and that output of drilling, casing, boiler and stainless steel pipes also fell. Demand for other types of pipe rose.
Pipe shipments in Russia came to 229,000 tonnes in Q3 (297,000 tonnes in Q2).
Overall sales in Q3 came to 254,000 tonnes.
ChelPipe is the flagship enterprise of the ChTPZ pipe and metals group, which includes Pervouralsk New Pipe Plant (PNTZ) ; LLC Meta, a company specializing in scrap metal collection and processing; metal trading company Uraltrubostal Trading House; and oil industry services provider Rimera. Arkley Capital manages ChTPZ Group's assets.
PNTZ sold 189,000 tonnes of pipe in Q3.