TMK Pipes buys supplier of scrap metal for 2.73 billion rubles

Pipe metallurgical company (TMK), one of the leading manufacturers of pipes for the oil and gas industry in the world, has acquired a 100% stake in ChermetServis-Snabzhenie, the company reports.

The deal amount made up about 2.73 billion rubles. This rate won’t lead to an increase in TMK’s capital expenditures in 2015, which, considering this transaction, are planned to be reduced by over 34% in comparison with 2014, the report says.

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