Russian pipe maker TMK, as the sole shareholder of its subsidiaries VTZ & ChTPZ, has made decisions to reorganize them by spinning off VTZ Pipeline Solutions& ChTPZ Pipeline Solutions with their simultaneous merger with TMK Pipeline Solutions. The purpose of this reorganization is to increase the efficiency of TMK Group's business, improve its financial condition and corporate structure within the target business divisions, focus management efforts on its main strategic areas of activity, and attract new investors to the identified business areas. The same applies to VTZ JSC and ChTPZ JSC, which will continue to be the key assets of the Group, continuing to fulfill all their obligations to partners, financial institutions, the state and employees.On 29 June 2022, the first notice of the reorganization of ChTPZ was published in the State Registration Bulletin magazine.
Russian pipe maker TMK, as the sole shareholder of its subsidiaries VTZ & ChTPZ, has made decisions to reorganize them by spinning off VTZ Pipeline Solutions& ChTPZ Pipeline Solutions with their simultaneous merger with TMK Pipeline Solutions. The purpose of this reorganization is to increase the efficiency of TMK Group's business, improve its financial condition and corporate structure within the target business divisions, focus management efforts on its main strategic areas of activity, and attract new investors to the identified business areas. The same applies to VTZ JSC and ChTPZ JSC, which will continue to be the key assets of the Group, continuing to fulfill all their obligations to partners, financial institutions, the state and employees.On 29 June 2022, the first notice of the reorganization of ChTPZ was published in the State Registration Bulletin magazine.
