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TMK Acquires OAO RosNITI

OAO TMK (“TMK” or “the Company”), one of the world’s largest oil and gas pipe producers, and the market leader of the Russian pipe industry, announces today that it has acquired a controlling stake in OAO RosNITI, Russian Research Institute for the Tube and Pipe Industries, the only metallurgical scientific and technological research centre in Russia.

Following the acquisition, TMK intends to create a central corporate scientific and technology research centre by integrating RosNITI with the Company’s existing research functions. The centre will consist of the Russian Research Institute for the Tube and Pipe Industries and the research divisions of the Company’s plants laboratories. The centre will be managed by the TMK’s s cientific and technical council, which is chaired by TMK’s Vice President and Chief Engineer Leonid Marchenko.

“As TMK implements its strategic investment program, it is totally committed to the principle of aggressive scientific and technical development,” says Konstantin Semerikov, CEO of OAO TMK. “TMK pays particular attention to the development and implementation of leading edge technologies which not only meet today’s quality standards but are also designed for the future, keeping ahead of the demands of customers.”

OAO RosNITI (Russian Research Institute for the Tube and Pipe Industries), located in Chelyabinsk and founded in 1961, is Russia’s only scientific research institute specialising in pipe production technology.