NEW YORK OAO TMK unit OFS
International LLC has bought the pipe services and precision
manufacturing assets of ITS Tubular Services (Holdings) Ltd.,
TMK said April 8.
ITS plant outside Houston
is capable of producing more than 700,000 threaded pipe joints,
about 250,000 couplings, and provides pipe inspection services
and makes down-hole tools and accessories for various oil and
gas uses, Moscow-based TMK said.
"This acquisition marks another
step in TMKs expansion in the U.S. and reinforces the
companys focus on developing service and producing high
value-added tools for the oil and gas industry," Alexander G.
Shiryaev, president, chief executive officer and chairman of
TMKs management board, said in a statement.
As part of the deal, OFS has
also acquired the Independent Inspection Services brand and
will continue to provide inspection services under its name, it
"These newly acquired assets will allow us to further
integrate our operations, as well as meet the pipe service
requirements of our customers throughout the Americas," OFS
president Konstantin A. Semerikov said.