OAO TMK (TMK), one of the world’s largest oil and gas pipe producers, and OAO Magnitogorsk Iron and Steel Works (MMK), one of Russia’s largest ferrous metal production companies, announced today that they have signed a strategic cooperation memorandum.
At the time of the signing, Dmitriy Pumpyanskiy, Chairman of the Board of Directors of TMK and Viktor Rashnikov, Chairman of the Board of Directors of MMK, expressed their satisfaction with the performance of recent collaborations. The companies also agreed to cooperate on future joint activities relating to the implementation of key technologies at MMK and TMK’s mills, the use of MMK products in the production of new types of pipes by TMK, and on future deliveries of broad sheets for large diameter pipes.
MMK is one of the main suppliers of flat rolled steel for pipe production at TMK’s mills. The companies are conducting a joint research and development program to create new products.
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