TMK Sees 2012 Sales Exceeding $7 Billion, May Consider Purchases

OAO TMK (TMKS), Russia’s largest producer of steel pipes for the oil and gas industry, expects sales to exceed $7 billion in 2012 and may consider acquisitions.

TMK may look at buying small- and medium-sized assets, deals which won’t increase its debt burden, the company’s press office said, citing remarks made by Deputy Chief Executive Officer Vladimir Shmatovich today on a conference call.

TMK’s 2011 sales rose 21 percent to $6.75 billion, it said March 16.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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