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TMK - ARTROM S.A. - ART

Official commissioning of the new heat-treatment line

Release Date: 2/13/2018 10:28:07 AM

IRIS Code: 90AC0

 

102/36

from

13.02.2018

 

 

 

Current Report

regarding the information provided in the Law no. 24/2017 and Regulation no. 1/2006 on issuers and transactions with securities

 

Date of the Report: 13 February  2018

Name of the issuing entity: TMK- ARTROM S.A. Slatina

Registered office: 30 Draganesti, Slatina, Olt, Romania

Telephone/fax number: +40249436862/ +40249434330

Registered in the Trade Register under no: J28/9/1991

Tax Identification Number: RO1510210

Unique Identifier at European Level (EUID): ROONRC.J28/9/1991

Code LEI: 315700M25SMOU44FAN52

Subscribed capital: 291.587.538,34 RON

Subscribed and paid up share capital: 291.587.538,34 RON

Regulated market where the issued securities are transacted: Bucharest Stock Exchange - STANDARD Category (market symbol ART)

 

Important event to be reported:

 

 

TMK-ARTROM SA ANNOUNCES OFFICIAL

COMMISSIONING OF THE NEW HEAT-TREATMENT LINE

 

TMK-ARTROM SA (Slatina), the well-known brand in the European market of industrial application pipes announces official commissioning of the new heat-treatment line for steel pipes and tubes. This new equipment allows the company to increase the portion of the Premium products in the Company’s portfolio. The large scale investment project allows to perform heat-treatment operations with long pipes, which is quite rare in Europe. The annual capacity of the new line is over 160 thousand tones of pipes. Engineering works and equipment supply was realized by SMS Group, one of the global leaders in manufacturing equipment of metallurgical industry.

 

BRIEF HISTORICAL FACTS OF TMK-ARTROM

The company was founded in 1982 as the State enterprise. The Slatina plant commissioned production first in 1988, later been transformed into a joint stock company with state participation named Artrom SA. On the 20th of November 1995 the company was listed in Bucharest Stock Exchange and in 1999 – transformed into a joint venture, public-private, with Austrian company STARO GmbH as a main shareholder. Together with recovery of economics and acceleration of the privatization process, in 2001 Artrom was taken over by the German company Sinara Handel GmbH (later on renamed TMK-Europe). Initial designed annual capacity of Artrom was 100.000 tones. At privatization the actual annual production volume of the plant was 26.000 tones, there were unfinished technological production capacities and low economic indicators. From 2001 on the TMK Group started implementation of a large scale modernization plan that is still ongoing. Before 2004 the ASSEL mill restored its designed capacity. And after commissioning of CPE, the second production line for seamless pipe in 2007, TMK-ARTROM has doubled its annual capacity up to over 200.000 tones. The production chain has been accomplished with acquisition of TMK-RESITA in order to secure the source of billets needed for Slatina production capacities.

 

INVESTMENTS AND CONTINUOUS DEVELOPMENT

With the completion of the first stage of the investment program it became possible to achieve two key objectives. First, ТМK-ARTROM and TMK-RESITA have become a single end-to-end metallurgical facility that transforms feedstock into high-tech products. Second, TMK-ARTROM has secured a leading position in the European pipe manufacturing market, especially as regards seamless pipes for industrial applications.

 

In the second stage of the investment program, by 2015 we started making new kinds of steel and alloys with greater added value and launched the production of new premium products for hydraulic and telescopic cylinders. In 2016 following the growing trend of export of high added value products to the U.S. market, TMK-ARTROM established its own subsidiary at Houston, the U.S. The company named TMK Industrial Solutions is responsible for commercializing of about 20% of TMK-ARTROM products, as well as all the industrial pipes produced by TMK in Russia and the U.S. On the 16th of February 2018 the official commissioning of the new heat-treatment line is taking place thus finalizing the second stage of the investment programme. Thus TMK-ARTROM consolidates its presence in the market of premium industrial pipes for mechanical application and oil&gas industry and increases its investment portfolio by another 36 million USD.

 

Official opening event of the 16th of February is anticipated to be attended by high level representatives of Romanian Government and Parliament, local and central authorities, commercial partners, customers and suppliers, the management of PAO TMK.

 

 

 

Chief Executive Officer,

Ing. Popescu Adrian

 

 



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