Russia’s TMK says relaunches all suspended US facilities

MOSCOW, Jul 13 (PRIME) -- Russian oil and gas pipe producer TMK has relaunched all its suspended U.S. facilities, Deputy CEO for Strategy Vladimir Shamtovich said in a conference call on Thursday.

“In early July, we launched the two U.S. facilities that had been idle. So, all our (plants) are working now,” he said.

In June, he said that the company plans to restart the Comenche plant in Ohio and the Catoosa plans in Oklahoma after an almost two-year break.

The company sees the U.S. and Canada energy industry growing. The North American market accepted higher prices from TMK’s U.S. division and local companies continue to increase purchases of pipe products despite volatility of oil prices. The company expects financial results of TMK IPSCO to improve in July–September and October–December of 2017.

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