Pipe Metallurgical Company one of the world largest manufacturers of tubular products announces the establishment of a joint enterprise with ROSNANO TMK-INOX for the production of precision tubes of stainless steels and alloys.

In a ceremony held on December 28 2010 in Sinarsky Pipe Plant in Kamensk-Urals attended by the governor of the Sverdlovsk region, Mr Alexander Misharin, Deputy Minister of Industry and Trade of the Russian Federation Mr Vladimir Salamatov. The delegation was led by RUSNANO Director General of the State Corporation Mr Anatoly Chubais. From the TMC was attended by delegations headed by the Chairman of the Board of Directors of TMK Mr Dmitry Pumpyansky.

The joint project aims to create a modern high-tech production of pipes for special applications. The project implementation will improve the basic properties and characteristics of produced pipes: strength, ductility, corrosion resistance, geometric parameters and surface quality while reducing production costs.

Ability to control with high accuracy deformation and thermal processing parameters can be formed in the crystal lattice of metal nanostructures, which can achieve a new level of consumer properties of products.

Shares of TMK and RUSNANO in a joint project accounted for 51% and 49% respectively. Equity capitals RUB 2.6 billion. Chairman of the Board of Directors of TMK-INOX elected RUSNANO Managing Director Mr George Kolpachev, CEO Mr Leonid Marchenko.

The project is expected to increase production of special types of pipes more than doubled to over seven thousand tons. The main consumers of manufactured TMK-INOX tubes will be enterprises of nuclear, heat power, engineering and chemical industries.

The event was also held the signing of a cooperation agreement between TMK-INOX and the main consumer of its products Atomenergomash. The agreement was signed CEO of TMK-INOX Mr Leonid Marchenko and CEO Atomenergomash Mr Vladimir Kashchenko.

Mr Alexander Shiryaev CEO of TMK said TMK-INOX is the most important joint project, as it is implemented within the framework of public policies to support Russian manufacturers of innovative products. Application of new technologies to manage the structure of materials at the nanoscale, which achieves high performance and is especially important for high-tech industries such as nuclear, defense, petrochemicals and others. The progressive development of the scientific activity of TMK, the modernization of research and testing facilities of the Company, its production and technical component gives us the opportunity to form knowledge intensive business, which is based on high technologies and products of the future.