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TMK, Energoprom sign agreement on supply of electrodes

TMK and Energoprom Group have signed a long-term contract for the supply of graphitized electrodes for electric furnace steelmaking in 2018-2022, TMK informed.

Supplies under the contract will cover about 40% of TMK's annual demand for graphitized electrodes. The contract provides for pricing based on a formula. The electrodes will be supplied from the Novocherkassk electrode plant.

PAO TMK (literally from Russian: Pipe Metallurgical Company, tax number: 7710373095) is one of the world's top 3 pipe manufacturers producing more than 6 million tonnes of tubular goods per year. Its production assets are located in Russia, the USA, Romania and Kazakhstan. In 2017, the company shipped 3.806 million tonnes of pipes, which is 10.6% above the result achieved in 2016.

TMK Steel Holding Ltd. owns an 65.058% equity stake in TMK. This company's principal beneficiary is Dmitry Pumpyansky. In February 2017, TMK floated an SPO in the amount of RUB 10.4 billion. The deal was arranged by Credit Suisse, Morgan Stanley and VTB Capital, Aton being the joint bookrunner.

IFRS net profit of TMK for 9 months of 2017 decreased to $46 million from $81 million for the same period in 2016. Revenue increased by 31% to $3.191 billion, adjusted EBITDA by 14% to $444 million. As of September 30, 2017, TMK's net debt stood at $2.711 billion.

"AK&M", 07.03.2018 12:57


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