TMK CHERMET Invests 50m RUR in Production

UrBC, Yekaterinburg, August 9, 2017. TMK CHERMET invested over 50m RUR in production upgrades in the first half of the year, the company press service reports.

These investments were part of the company’s development strategy aimed at recycling more scrap ferrous metal from TMK Group’s own member enterprises so that it can be used at Pipe Metallurgical Company’s plants.

Most of the investment amount was directed to purchasing new vehicles for the company’s production sites and new automobiles, to introducing equipment upgrades, and to improving working conditions at the scrap-processing sites. For one, the plant bought four new automobiles and replaced six old vehicles with new ones. 1.5m RUR were spent on working conditions improvements.

According to TMK CHERMET CFO Jan Starchenko, the company intends to direct another 50m RUR to investments before the end of the year.

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