Russian steel pipe producer TMK has announced that it has sold its subsidiary Yartsevo Metallurgical Plant (YMZ), a construction fittings manufacturer, to a third-party investor. However, the company has not disclosed the sale price or the name of the buyer.
As a result, TMK will be able to focus on the development and supply of advanced pipe solutions, services and comprehensive engineering projects.
The company had acquired YMZ back in October 2020, increasing its production capacity to 350,000 mt per year from 300,000 mt per year via modernization and expanding its product portfolio with the slitting process in its rolling shop.