TMK Ipsco Announces Production Curtailment
11/25/2008 - TMK Ipsco is reducing output due to a recent surge of imported pipe into the North American marketplace.
TMK Ipsco announced that it is reducing output due to a recent surge of imported pipe into the North American marketplace.
The company said it will implement the reduction, which primarily affects the company's ERW product lines, through curtailment of overtime work and selective workforce reductions. Workforce reductions are being kept to a minimum by utilizing down time to conduct additional training, performing extended maintenance, and taking holiday outages.
Vicki Avril, TMK Ipsco's President and CEO, who testified this week before the U.S. International Trade Commission, said "At the present time our company is evaluating order intake rates in comparison to production schedules and determining what level of production curtailments to take."
Operating in North America as a division of Russia’s TMK, TMK Ipsco is a leading low-cost producer of energy tubulars. It operates one steel mill and eight pipe mills and product finishing facilities in seven states across the United States. TMK Ipsco's pipe mills produce a wide range of seamless and welded energy tubular products including oil & gas well casing and tubing, line pipe, drill pipe, standard pipe and hollow structurals. TMK Ipsco also manufactures, at two plants in Texas, premium connections for oil and natural gas drilling and production under the ULTRA brand name.
TMK is the largest pipe producer in Russia.
