TMK Acquires Pipe Services Assets in Houston
04/12/2013 - The U.S.-based service company OFS International, controlled by TMK, has acquired a 100% stake in the pipe services and precision manufacturing assets of ITS Tubular Services.
The U.S.-based service company OFS International LLC, controlled by TMK, a Russia-based producer of tubular products for the oil and gas industry, has acquired a 100% stake in the pipe services and precision manufacturing assets of ITS Tubular Services (Holdings) Limited (Aberdeen, Scotland) and a group of affiliated shareholders.
The facility is located on an 84-acre site north-east of Houston and has the capacity to produce more than 700,000 joints of threaded pipe and around 250,000 couplings. In addition, the facility provides pipe inspection services and manufactures down-hole tools and accessories for a wide range of oil and gas applications.
As part of the agreement, OFS International LLC acquired the brand “Independent Inspection Services” and will continue to provide inspection services under this name.
“This acquisition marks another step in TMK’s expansion in the U.S. and reinforces the company’s focus on developing service and producing high value-added tools for the oil and gas industry,” said Alexander Shiryaev, TMK CEO.
Konstantin Semerikov, president of OFS International LLC, added, “These newly acquired assets will allow us to further integrate our operations as well as meet the pipe service requirements of our customers throughout the Americas”.
