TMK acquired oilfield service assets in the U.S.

"The acquired assets will enhance the integration TMK pipe and service businesses, as well as meet the needs of our customers reliable service in the Americas", — said Konstantin Semerikov, president of the OFS International LLC.

The U.S. company OFS International LLC, controlled by the Pipe Metallurgical Company (TMK), one of the world's largest manufacturers of tubular products for the oil and gas sector, has acquired 100% interest in the assets of prices for tubular products and accessories for the production of oil and gas industry, the company owned by ITS Tubular Services (Holdings) Limited (Aberdeen, Scotland) and an affiliated group of shareholders.

The acquired assets are located to the north-east of Houston on an area of 84 acres and has a capacity for cutting more than 700,000 piping and about 250,000 of the couplings in the year. In addition, these assets provide a service for inspection of pipes and engaged in the production of various downhole equipment which is widely used in the oil and gas industry.

Under the agreement the company OFS International LLC has also acquired ownership of the trademark «Independent Inspection Services», under which will provide services for the inspection of pipes.

"This acquisition demonstrates further strengthening the position of TMC in the U.S. market, and once again underlines the company's commitment to strengthen the service component of business and the oil and gas industry to offer products with high added value," — said TMK CEO Alexander Shiryaev.

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