PMC TO COOPERATE WITH PC “AZERBORU”

10.04.2004 [16:59]
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Russian Pipe Metallurgy Company /PMC/ and British Financial Group “Targol Investments Ltd” signed an agreement on cooperation to arrange an effective pipe production in “Azerboru” SC.

The new agreement implies establishment of the new joint venture. 51 percent of shares will belong to PMC while 49 percent - to Targol Investments Ltd.

PMC aims at restoring the productive potential of the enterprise and arrange the production of pipes that are up to world standards. The joint venture plans to invest $30 million.

PMC TO COOPERATE WITH PC “AZERBORU”

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