TMK Americas squeezed by lower prices

Nov 27, 2012 | 03:13 PM | Michael Cowden

Tags  OAO TMK, TMK Ipsco, quarterly earnings, energy tubulars, OCTG, drill rig count, Baker Hughes, Michael Cowden

CHICAGO — OAO TMK’s Americas operations were squeezed in the third quarter by lower prices and "softening market conditions" as a decline in drilling activity and import pressure took a bite out of profits.

The Moscow-based parent of steel tube and pipe maker TMK Ipsco, Downers Grove, Ill., said in remarks released with earnings data Tuesday that it expected a challenging fourth quarter in the region, given a lower drill rig count, continued high levels of imports and customer efforts to manage inventories.....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results

AMM Events