Pumpyanskiy's TMK admitted the possibility to sell its plants in the US

Russian billionaire Dmitry Pumpyanskiy's TMK does not preclude the sale of assets of its American division TMK IPSCO to reduce debt, informed the press service of the company.
Origin source
At present, net debt was $ 2.49 billion, or 4,6 EBITDA. The company plans to reduce net debt to 2,5 EBITDA. To do this, TMK "is considering various strategic options, including the issue of shares, the sale of certain assets, including international ones." Vice-President of TMK's strategy and business development Vladimir Shmatovich said that the company has "no deals on the table," but it is obliged to inform investors of such plans on the requirements for public companies.

In the first place we can talk about the sale of assets in the United States, reported on Monday, August 22, the newspaper "Komersant" with reference to an informed source.

In the fall of 2014, TMK considered the possibility of IPO TMK IPSCO. But in 2015, the American division of the company losing sales and profitability due to a fall in demand from the oil and gas sector and the growth of imports.

The structure of TMK IPSCO in the United States consists of five plants - two in Pennsylvania, and one each in Kentucky, Arkansas and Texas.

TMK IPSCO produces a wide range of seamless and welded carbon steel pipe. They are available in the oil and gas industry. This pump-tompressornye, drilling, casing and oil and gas pipelines, as well as the pipes with premium connections Ultra family and oilfield tool. TMK IPSCO also manufactures welded industrial pipes and steel billets for production of seamless pipes.

In total, the division has 12 manufacturing sites with capacity 1.39 million tons of pipes per year. Until last year, TMK Division provided about a fifth of revenue. But in 2015, TMK IPSCO underutilized capacity and product sales fell more than doubled - up to 440 000 tonnes.

TMK IPSCO's problems explain significant of TMK reduction in drilling volumes for exploration costs and production of hydrocarbons in North America. In connection with this substantially reduced implementation of oil and gas pipes in the division.