Russian pipe king has sights set on 25 year-old WRJ

The company is eyeing the pipes maker WRJ, which has been in construction for over 25 years and is being sold by TFS. "We are determined to take over the rolling-mill. We placed an attractive bid, but I cannot disclose any details. We hope to close the deal before the year ends," said Wasilij Makarow, president of Sinara Trading. The firm is so keen on purchasing WRJ due to the bullish market for pipes that has been growing since last year. "We expect growing demand," stressed Makarow. Romuald Talarek, president of the Steel Chamber (HIPH), said demand is set to increase further because of the planned investments in power plants. If Sinara purchases WRJ, Złomrex, which constructed a special production line designated for supplying WRJ, might be in serious troubles according to sources. (Puls Biznesu, pp. 1, 10) M.M.