Romanian pipe producer invests EUR 10 mln in new facility

Romanian company TMK-Artrom Slatina, one of the leading manufacturers of seamless steel pipes for industrial applications, has invested about EUR 10 million in a new unit that will produce hydraulic cylinders and pipes for the automotive industry. “The investment is the first stage of the company’s broader development program towards premium products, with high added value and will have a positive impact on efficiency of the activity of TMK’s plant in Slatina,” the company’s representatives announced. The new workshop can process 25,000 tonnes of pipes a year. The equipment was brought from Japan and Germany. TMK-Artrom is part of Russian group TMK, which also owns a steel mill in Resita. TMK-Artrom had a turnover of EUR 219 million and a net profit of EUR 9 million, in 2014. editor@romania-insider.com (photo source: tmk-artrom.eu)