TMK and Skolkovo Fund Sign Agreement to Establish R&D Centre

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tmk_logoTMK, a leading global manufacturer of tubular products for the oil and gas industry, has signed an agreement with the Skolkovo Fund (the “Fund”) to open its research and development facility in the Skolkovo Innovation Centre. The agreement was signed by Dmitry Pumpyanskiy, Chairman of TMK’s Board of Directors, and Viktor Vekselberg, Skolkovo Fund President.

The document provides a framework for establishing TMK’s R&D Centre and its activity in Skolkovo. The Centre will focus on developing efficient technologies in the areas of oil and gas exploration and production, transportation of hydrocarbons, and on finding new solutions to improve energy efficiency in the iron and steel industry. The Centre is expected to reach the designed capacity in 2015.

According to the agreement, TMK will also evaluate industry-specific projects developed by Skolkovo participants, in terms of their feasibility and prospects, take part in conferences held by the Fund, and share information on current and upcoming tasks of its R&D Centre. The Fund in its turn will enable the Centre to utilize Skolkovo’s infrastructure and services, and will provide opportunity for TMK to obtain the status of a Skolkovo participant.

“Research and innovation are among TMK’s major focuses. RosNITI, a pipe industry research institute located in Chelyabinsk, has been within the Company’s structure since 2007. Last year, TMK’s new R&D centre was opened in Houston. We maintain efficient interaction with industry and corporate oil and gas research institutes. The agreement to open TMK’s R&D Centre in Skolkovo is yet another important step in developing the research efforts at TMK. We hope that our partnership with the Skolkovo Innovation Centre will give us additional opportunities to develop and introduce new technologies and products which are in high demand among Russian oil and gas companies,” says Dmitry Pumpyanskiy, Chairman of TMK’s Board of Directors.

 

TMK (www.tmk-group.com)

TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for the oil and gas industry, operating 28 production sites in the United States, Russia, Canada, Romania, Oman, UAE, and Kazakhstan and two R&D centres in Russia and the USA. In 2012, TMK’s pipe shipments totaled 4.22 million tonnes. The largest share of TMK’s sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing.

TMK’s securities are listed on the London Stock Exchange, the OTCQX International Premier trading platform in the U.S. and on Russia’s major stock exchange – MICEX-RTS.