Pipe Metallurgical Company (TMK) announced the closing of the sale to a third-party investor of Yartsevsky Metzavod (OOO TMK-YaMZ), a major rebar manufacturer located in Yartsevo, Smolensk region. The transaction will allow TMK to focus on such key business areas as the development and supply of modern pipe solutions, the provision of services and the realisation of complex engineering projects.
TMK acquired Yartsevsky Metzavod in October 2020. During its management, the plant was modernised, which led to an increase in production capacity from 300,000 tonnes to 350,000 tonnes per year. In addition, the product range was expanded thanks to the introduction of new production technology in the long product rolling shop. Working conditions and social programmes for the plant's employees were also improved.
The new owner intends to continue the plant's development by strengthening its production potential and developing its sales network, as well as ensuring a high level of social security for employees.
According to the Unified State Register of Legal Entities of the Russian Federation, the plant has been 100% owned by Frunze LLC since 7 June.
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