United Metallurgical, the Russian steel-pipe producer known as OMK, said it acquired the TTS plant in Texas with an annual capacity of 150,000 tons.
OMK plans to build another U.S. plant with as much as 200,000 tons of annual capacity by 2013, it said. The company, which supplies pipes to oil and gas producers including Gazprom and ExxonMobil, seeks to provide semifinished material from Russia and process it in the United States to its customers' requirements, it said.
TTS is the first foreign acquisition by OMK, which may spend $200 million on expansion in the United States, Kommersant reported Thursday.
(Bloomberg)
