Executive Applauds Decision to Uphold Dumping Tariffs
The following contains forward looking statements concerning future events. These statements are based on current information and assumptions of management concerning risks and uncertainties.
"We are pleased that the International Trade Commission has made a positive decision on the dumping of unfairly priced Oil Country Tubular Goods (OCTG) against Korea, Turkey, Vietnam, India, Ukraine and Taiwan," David Mitch, president and CEO of TMK IPSCO, said today. "They have sent a clear message that we are open to trade from all, as long as it is fair.
"Although there was a surge in imports before the Department of Commerce's deadline, we should see some relief in price competition by the end of the year. It is unfortunate that we had to scale back operations due to the unfairly traded imports. On a level playing field, we can compete with anyone," Mitch added.
Through research, product development and continually improving operating efficiencies, TMK IPSCO has addressed the needs of the oil and gas industry throughout the U.S., Canada and Latin America. The division remains optimistic as several indicators point to increased gas demand, which will result in greater demand for TMK ULTRA Premium connections.
Note to editors: See the ITC's announcement here: http://www.usitc.gov/press_room/news_release/2014/er0822mm1.htm
About TMK IPSCO
TMK IPSCO operates in North America as a division of TMK, a global market leader in energy pipe production. TMK operates 28 production facilities around the world. TMK product offerings include a wide range of seamless and welded energy tubular products including oil and gas drill pipe, well casing and tubing, line pipe, large diameter pipe, standard pipe, hollow structural sections and related services. TMK also manufactures premium connections for oil and natural gas drilling and production under the TMK UP brand name.
TMK IPSCO manufacturing plants: | |||||
Ambridge, Pennsylvania | Camanche, Iowa | ||||
Baytown, Texas | Catoosa, Oklahoma | ||||
Blytheville, Arkansas | Edmonton, Alberta | ||||
Brookfield, Ohio | Geneva, Nebraska | ||||
Houston, Texas | Odessa, Texas | ||||
Koppel, Pennsylvania | Wilder, Kentucky | ||||
For more information about TMK IPSCO, please visit www.tmk-ipsco.com.
Contacts:
TMK IPSCO
Roger Bentley, 832 678 5064
rbentley@tmk-ipsco.com