TMK announces the cancellation of the reorganization of JSC "VTZ" and PJSC "ChTPZ"

10.03.2022       

The Pipe Metallurgical Company (TMK) announces that due to the current instability in the financial markets, the company has decided to cancel the reorganization of its subsidiaries JSC VTZ and PJSC "ChTPZ", within which it was previously planned to spin off LLC "VTZ Pipeline Solutions"; and ChTPZ Pipeline Solutions LLC with simultaneous merger with TMK Pipeline Solutions LLC, as well as spin-off of ChTPZ Seamless Pipes LLC; with simultaneous accession to SmartMet LLC.