Artrom Steel Tubes (formerly TMK Artrom)

History

2022: Asset Sale

On January 23, 2023, it became known about the sale of European assets of the Pipe Metallurgical Company (TMK). They were acquired by the Serbian investment company Hefestos Capital. The latter told Interfax about the deal.

It is reported that the sale of TMK Artrom was carried out at the end of 2022, after which the company changed its name to Artrom Steel Tubes. The financial terms of the agreement were not disclosed.

The acquisition of Artrom will open up new prospects, and we look forward to working with the company's management, team of specialists, as well as the Romanian authorities, our suppliers and customers around the world to further develop the potential of Artrom Steel Tubes, - quotes the publication of Profit.ro.слова co-owner of Hefestos Capital Milutin Nikolic.

TMK sold European assets to Serbian company

According to the estimates of an independent expert in the field of industry and power Leonid Khazanov, the amount of the transaction can vary from 100 to $200 million. He noted that TMK's European division includes two metallurgical plants in Romania. The first of them can melt 450-500 thousand tons of steel per year. The second is that it produces about 200 thousand tons of seamless pipes per year and sells them to mechanical engineering, power and construction enterprises. Also, the European division has sales offices in Italy and Germany, the expert added.

The TMK Artrom SA report notes that the new owners of Artrom Steel Tubes have already filed an application for defrosting the funds of the former Romanian subsidiary TMK, which were blocked due to sanctions against the former largest shareholder of the Russian pipe company Dmitry Pumpyansky.

Artrom Steel Tubes chairman Adrian Popescu on January 23, 2023, said the Artrom group could resume development programs that have had to be postponed over the past three years.^[1]

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