OREANDA-NEWS. OAO TMK today announces the acquisition of all of the ordinary shares in OAO Orsk Engineering Plant (OMZ) located in Orsk, in the Orenburg Region. The shareholding represents 75% of the authorised capital stock of the company.

According to the press service of TMK, the authority of the sole executive body of OAO OMZ has also been transferred to OAO TMK with effect from February 1, 2007.

OMZ specialises in the production of tool joints for drilling pipes, couplings for tubing pipes, hydraulic cylinders for mobile drilling machines and provides services for oil and gas companies including Surgutneftegaz, Rosneft and Gazpromneft. OMZ is the only company in Russia certified by the American Petroleum Institute to produce tool joints for drilling pipes in accordance with the international specification API Spec7.

“The purchase of Orsk Engineering Plant is in line with TMK’s stated objective of increasing the share of the oil and gas services in its sales. This will permit the Company to offer a comprehensive and integrated approach to satisfying customer needs,” Konstantin Semerikov, OAO TMK’s CEO, said.