The Company placed 138,888,888 of PAO TMK’s existing ordinary shares in a secondary public offering.
TMK successfully sank 508 mm casing pipe with TMK UP MAGNA premium threaded connections and GreenWell lubricant-free coating at LUKOIL’s North Caspian offshore project.
TMK was the first Russian company to start shipments of casing pipes made of the corrosion-resistant chromium-nickel alloy TMK-C. The first batch of 110 grade TMK-C pipe with TMK UP PF highly gas-tight premium threaded connections was produced at TAGMET and shipped to LUKOIL.
On 25 April 2017, PAO TMK placed a RUB 5 billion 10-year bond on Moscow Exchange. The issue provides for coupon payments on a semi-annual basis and a put option exercisable in three years. The bond has a coupon rate of 9.75% per annum.
Under a new methodology, TMK was assigned a ruA credit rating by RAEX (Expert RA), stable outlook.
On 28 April 2017, the World Day for Safety and Health at Work, TMK summarised the results of activities held to mark the Steel Safety Day-2017, and submitted them to the World Steel Association. The initiative aims to identify and mitigate safety risks associated with key workplace hazards across all the Company’s production sites.
Rosneft and TMK signed long-term contracts for the supply of casing and tubing pipes. The long-term contracts based on formula pricing are valid for over 5 years.
On 02 June 2017, PAO TMK placed a RUB 10 billion 10-year bond on Moscow Exchange. The issue provides for coupon payments on a semi-annual basis and a put option exercisable in four years. The bond has a coupon rate of 9.35% per annum.
PAO TMK’s General Meeting of Shareholders approved a final dividend for the 2016 financial year of RUB 1.96 per ordinary share. TMK launched TMK eTrade, Russia’s first tubular goods online shop.
TMK and the All-Russian Scientific Research Institute of Metallurgical Engineering (VNIIMETMASH) signed a memorandum of intent. The parties agreed on cooperation in the repair, upgrades, and supply of modern process equipment for four Russian TMK plants, and for European division’s TMK-RESITA.
TMK successfully sank casing pipes with unique TMK UP CENTUM threaded connections. The Company shipped the first batch of the new product to NOVATEK’s Arctic LNG 2 project.
TMK signed a long-term strategic partnership agreement with Gazprom Burenie, a leading Russian drilling company. Under the new agreement, ТМК is set to be the primary supplier of its entire range of steel drill pipes. The agreement runs until the end of 2022 and employs a formula-based pricing structure for pipe products.
TMK successfully sank casing pipes with unique TMK UP ULTRA GX threaded connections designed for SAGD projects. The first batch of the new product was shipped to Samaraneftegaz, a Rosneft subsidiary.
TMK presented its new strategy to 2027.
TMK has launched its own corporate university, TMK2U, which will combine classic and modern approaches to training highly skilled personnel.
A promising feature of the Corporate University is its independent qualification assessment center at the University, which assesses employee skill levels and their compliance with professional standards.
On 27 November 2017, S&P Global Ratings (S&P) changed its outlook on TMK’s credit ratings to “stable” from “negative”, and confirmed the Company’s long-term corporate rating at B+.
TMK was rated the best private commercial customer in the National Procurement Transparency Rating. The Company received the top score and was named a “business with guaranteed transparency”.
TMK successfully passed a recertification audit for the ISO 9001:2015 quality management system. The audit was conducted by Britain’s Lloyd’s Register.
On 29 January 2018, TMK fully redeemed its $231 million Eurobonds which matured in January 2018.
TMK commissioned a new integrated heat treatment line for seamless pipes at TMK-ARTROM, Romania. Covering over 12,000 sq m, the facility’s treatment capacity is 165 ktpa of pipe.
On 28 February 2018, Moody’s Investors Service (Moody’s) changed its outlook on TMK’s credit ratings to “stable” from “negative”, and confirmed the Company’s corporate rating at B1.