Russian Pipe Giant To Become Global Leader

Russia's Trubnaya Metallurgicheskaya Kompaniya (TMK), one of the world's biggest pipe producers, has to decide whether to place a debut share on a western bourse, the company said, noting that it was technically prepared to that.

TMK, with the annual capacity of 2.5 million tons of various pipes, which controls almost 10 percent of the global market in industrial pipes, is considering listing up to 20 percent of its stock in London in late 2005 or early 2006 in a float that could bring it $300 million produced.

TMK plans to raise exports to become the global leader in the pipes industry, however, it has good revenue from domestic oil companies, which need for industrial pipelines is growing.

"Exploration of new oil fields will lead to higher demand for high-tech, value-added industrial pipes among producers," TMK?s executive director Konstantin Semerikov said, adding that TMK planned to invest $1 billion in various expansion projects by 2010.