TMK Buys Controlling Shareholding in Gulf International Pipe Industry L.L.C. in Oman
5 December 2012 (09:40)
December 5, 2012. Pipe Metallurgical Company (TMK), one of the world’s largest OCTG manufacturers, bought a 55% shareholding in Gulf International Pipe Industry L.L.C. (GIPI) in the Sultanate of Oman, TMK press service reports.
The enterprise’s capacity makes it possible to produce over 200,000 tons of OCTG welded and line pipes for the oil and gas industry. The plant’s key customers are currently some major O&G enterprises operating in the Persian Gulf.
GIPI’s other stockholders are Oman Investment Corporation (OIC), Gulf Investment Corporation (GIC), and Posco P&S.
TMK agreed with the other shareholders that it will manage the plant and will integrate the company into its global production and sales network in order to enhance the shareholder value.
The enterprise’s capacity makes it possible to produce over 200,000 tons of OCTG welded and line pipes for the oil and gas industry. The plant’s key customers are currently some major O&G enterprises operating in the Persian Gulf.
GIPI’s other stockholders are Oman Investment Corporation (OIC), Gulf Investment Corporation (GIC), and Posco P&S.
TMK agreed with the other shareholders that it will manage the plant and will integrate the company into its global production and sales network in order to enhance the shareholder value.
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