New entity to shape the future of pipe producer WRJ

TMK will acquire an 80% stake in WRJ Inwestycje, while the other two shareholders will have 10% each. Taking over the assets of WRJ and WRJ Serwis by the new task-orientated entity is dependent upon the announcement of WRJ's liquidation bankruptcy, as within 18 months from the date of the decision, WRJ will cease the production of pipes. The plant will produce, among others, specialist products for the oil industry and pipes for the automotive sector. The target output of the rolling mill should amount to 100,000 tones, which will create 500 new jobs. "The mill will achieve great benefits stemming from being a part of the dynamically developing international TMK network. It will have access to raw materials from our plants in Romania and to a well developed sales network in Europe, Asia and the United States," said Wasili Makarow, president of Sinara Handel, international distributor of Grupa TMK. (Parkiet, p. 5) M.M.