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TMK Group signs an agreement with CPTDC

March 22, 2006 - The pipe metallurgical company (TMK) signed a long-term agreement with Chinese company "China Petroleum Technology & Development Corporation".

The pipe metallurgical company (TMK) and China Petroleum Technology & Development Corporation (CPTDC) have completed a 3-year cooperation agreement. The document provides the possibility of mutual interaction based on supplying of the CPTDC company with steel pipes produced by the members of TMK-Group: Volzhski Pipe Plant (in Volgograd Oblast), Taganrog Iron and Steel Factory (TAGMET) (in Rostov Oblast), Sinarsky Pipe Works (in Sverdlovsk Oblast) and Seversky Pipe Works (in Sverdlovsk Oblast). The coordination of the joint actions will permit to find the optimal solution in elaboration and application of the know-how, fulfillment of the producing and delivery orders. This agreement will work as a base for a further development of the bilateral partnership and cooperation between TMK-Group and Chinese consumers of pipe production, what makes an important contribution to the international expansion of TMK, according to Mr. Semerikov, director general of TMK. China Petroleum Technology & Development Corporation is the subsidiary company of the leading Chinese oil-producing group China National Petroleum Corp.(CNPC), which provides the equipments and material customs.