16-06-08 TMK, Russia’s largest steel pipe manufacturer, said it had completed a $ 1.25 bn deal to buy IPSCO Tubular’s US assets from Swedish steel producer SSAB.
Under a transaction carried out jointly with Evraz Group, Russia’s largest steel and mining company, TMK acquired 100 % of shares in IPSCO Tubulars and 51 % of shares in NS Group.

TMK and Evraz also entered into a call/put option for the remaining 49 % of NS Group, which may be exercised for around $ 0.5 bn subject to certain adjustments, TMK said.
“The purchase of IPSCO Tubular’s US assets is an essential part of TMK’s strategy to expand the company’s global presence and increase supplies of high-tech, premium-class, tubular goods for the oil and gas industry,” TMK said.

TMK acquired ten production facilities in seven states with combined pipe production capacity of over 1 mm tons, including about 300,000 tons of seamless pipes and in-house steelmaking capacity of 450,000 tons of billets per year.
In addition to pipe rolling and steelmaking, the acquired assets offer 450,000 tons of annual heat treatment capacity, about 750,000 tons of threading output potential, and up to 240,000 joints of premium connection capacity.