TMK General Director Alexander Shiryaev. Alexander Shiryaev: TMK relies on premium products and oil and gas services
"Biography"
Graduated from the Sverdlovsk Institute of National Economy.
In 1974, he entered JSC Verkh-Isetsky Metallurgical Plant, where he worked for 23 years and went from engineer to financial director.
"Ratings"
"News"
Over the first half of the year, the pipe market of the Russian Federation fell by 6% due to the completion of the construction of the largest pipelines
TMK increased sales seamless pipes, but revenue from LDP has declined.
“In Russia, one of the main priorities for us remains the development of innovative solutions, for example, unique corrosion-resistant casing pipes made of TMK-S alloy and the country's first electronic platform retail pipes," said CEO company Alexander Shiryaev.
Vyacheslav Popkov appointed First Deputy General Director of TMK for the production and technical unit
“Having worked successfully for many years at one of the key plants of our company, Vyacheslav Popkov has established himself as a competent, demanding manager, and a specialist of the highest level. This experience is a reliable help in solving strategic objectives to improve production efficiency, technical development and the introduction of new technologies to strengthen TMK's position as a global leader,” commented Alexander Shiryaev, CEO of TMK.
TMK intends to raise RUB 10.41 billion in the secondary offering.
TMK CEO Alexander Shiryaev expressed confidence that the SPO would increase the liquidity of the company's shares, which would be beneficial for its shareholders.
“We consider the secondary public offering successful, as the shares were valued above the originally estimated level,” Shiryaev explained.
Volzhsky Pipe Plant received the Prize of the Government of the Russian Federation in the field of quality
“Awarding VTZ of the Government Prize Russian Federation in the field of quality, this is a high assessment of the work of the many thousands of employees of the enterprise,” says Alexander Shiryaev, General Director of TMK. – Working in new economic conditions, TMK successfully solves the problem of imports ahead of schedule, creates new high-tech, highly efficient and integrated pipe solutions that make it possible to fully meet the needs of our customers.”
Alexander Shiryaev, Chairman of the Management Board, TMK
TMK ANNOUNCES PERSONNEL CHANGES
The Pipe Metallurgical Company (TMK) announces the appointment, effective February 14, 2013, of Alexander Lyalkov, who is the First Deputy General Director of TMK, as Managing Director of OJSC Volzhsky Pipe Plant (VTZ). Elena Blagova, who has held the position of Managing Director of VTZ since 2007, is moving to the TMK management company, where she will be involved in the development of new projects.
“We are not a bank to turn on the counter,” - Alexander Shiryaev, General Director of the Pipe Metallurgical Company
TMK executives are regular participants in anti-crisis meetings between the government and industry. New CEO TMK believes that while the state is doing everything right
This year, the Pipe Metallurgical Company (TMK) has become the largest pipe company in the world in terms of capacity. The purchase of Ipsco's American plants, for which TMK paid with $1.2 billion in loans, allowed it to take the first place. But the company has already managed to refinance short loans for $400 million, and negotiations are underway with banks on the remaining debt. In addition, TMK applied to Vnesheconombank for a loan. Recently, VEB allocated $1.8 billion to Evraz Group to refinance loans taken, among other things, for the purchase of Ipsco's Canadian assets, and so far there is no reason to think that the state will refuse TMK in a similar deal. Alexander Shiryaev, who was appointed CEO of TMK at the end of November, tells Vedomosti about how the company is going to develop in the conditions of the global crisis.
Alexander Shiryaev: TMK relies on premium products and oil and gas service
According to the preliminary results of 2013, the Pipe Metallurgical Company (TMK) for the fifth time became the world's largest producer of steel pipes in terms of shipment volumes, showing a result on the level of a much more favorable year for pipemakers in 2012. Alexander Shiryaev, General Director of TMK, spoke about how this was done, about the company's plans for 2014 and the prospects for the pipe market.
Deeper in the fuel and energy complex
Alexander Shiryaev, General Director of OAO TMK: “ Russian market steel pipes showed a significant rise, reaching record volumes over the past 20 years"
Alexander Shiryaev, TMK: “Even in the US, electricity is cheaper than in Russia”
General Director of the Pipe Metallurgical Company in an interview with Portal 66.ru - about new production, the dangers of the WTO and the situation on the market.
This week, Evgeny Kuyvashev personally opened two new lines at the Sinar Pipe Plant. One will produce pipes with a diameter of 12 to 35 millimeters, the other - from 30 to 120 millimeters. After the governor left, General Director of the Pipe Metallurgical Company Alexander Shiryaev answered several questions from Portal 66.ru.
Chubais joined the board of directors of TMK
Moscow. June 23rd. INTERFAX.RU - The head of Rosnano, Anatoly Chubais, joined the board of directors of the Pipe Metallurgical Company (TMK), follows from the company's message. Meanwhile, the manager management company TMK Elena Blagova left the Board of Directors.
The remaining members of the former board of directors of the company were re-elected to the new board. These are, in particular, the largest beneficiary of the group Dmitry Pumpyansky, TMK CEO Alexander Shiryaev and his deputies Andrey Kaplunov, Sergey Papin, Igor Khmelevsky. Independent directors also retained their positions: Peter O'Brien, former Rosneft Vice President for Finance; Oleg Shchegolev, former First Vice President of Russneft (MOEX: RUSN); Bob Foresman, President of Barclays Capital Russia; Mikhail Alekseev, Chairman of the Management Board of UniCredit , President of the RSPP Alexander Shokhin.
Personnel changes have taken place in TMK's management. Alexander Shiryaev became the CEO of OAO TMK.
At a meeting of the Board of Directors of TMK, a number of organizational and personnel decisions were made. According to TMK's press service, Alexander Shiryaev, a member of the company's board of directors, who was the general director of CJSC Sinara Group and previously deputy general director for finance and economics of OAO TMK, has been appointed to the position of CEO of OAO TMK. Konstantin Semerikov will continue to work in the company as General Director of CJSC Trading house TMK and First Deputy General Director of OAO TMK.
Andrey Kaplunov, a member of the Company's Board of Directors, became another First Deputy General Director of OAO TMK. His place on the Appointment and Remuneration Committee of OAO TMK's Board of Directors was taken by Igor Khmelevsky, a member of the Board of Directors. “With the completion of the main phase of the Strategic Investment Program, thanks to which TMK now has the largest pipe production capacity in the world, we are faced with the task of strengthening our positions in traditional markets and strengthening our efforts to enter new markets. I am sure that the professionalism and experience of Alexander Shiryaev in the financial field and the commercial talent of Konstantin Semerikov will enable TMK to successfully cope with the tasks set,” said Dmitry Pumpyansky, Chairman of the Board of Directors of OAO TMK. - the day before
TMK: Russian metallurgists can provide the fuel and energy complex with almost all the necessary products
“We approached the sanctions with such economic and technical equipment that we can provide almost all the products needed to extract hard-to-recover, complicated reserves,” said Alexander Shiryaev, General Director of JSC Pipe Metallurgical Company (TMK).
TMK and Gazprom sign a scientific and technical cooperation program
Pipe Metallurgical Company, one of the world's largest manufacturers of pipe products for the oil and gas industry, has signed an agreement on scientific and technical cooperation with Gazprom for 2015-2020. The document was signed by Alexander Shiryaev, Director General of TMK, and Dmitry Lyugai, Head of Gazprom's Prospective Development Department.
The program provides for the mutually beneficial solution of the tasks of meeting the needs of Gazprom with pipe products. She points out three areas of scientific and technical cooperation as priorities: the development of new types of pipe products, import substitution measures, as well as the exchange of experience and research.
MMK and TMK have determined the price formula for flat products for LDP production
At the Metal-Expo'2014 International Industrial Exhibition in Moscow, the Magnitogorsk Iron and Steel Works (MMK) and the Pipe Metallurgical Company (TMK) signed an agreement on the application of a formula for calculating the price of wide-format hot-rolled sheet when delivered to TMK enterprises. The agreement determines the price formula for steel products until the end of 2015 and takes into account the interests of both parties. The document was signed by Pavel Shilyaev, CEO of MMK, and Alexander Shiryaev, CEO of TMK.
Pipe products for the Power of Siberia gas pipeline
TMK became one of the suppliers of pipe products for the Power of Siberia project based on the results of Gazprom's tender held in March 2015.
The company won one of the large lots for the supply of LDP in 2015 and 2016 in the amount of about 12.6 billion rubles. The range of shipped products - pipes with a diameter of 1420 mm, a wall thickness of 21.7 mm, made of steel of strength class K60 with an operating pressure above 9.8 MPa, with external anti-corrosion and internal smooth coatings, manufactured by the Volzhsky Pipe Plant (VTZ). In total, in 2015 and January-February 2016, TMK plans to ship 152,000 tons of pipes as part of the Power of Siberia project.
Born on 01/01/1952 in the Sverdlovsk region.
Education and degrees.
Higher education received at the Sverdlovsk Institute of National Economy, from which he graduated in 1991.
Career.
He began his career at the Verkh-Isetsky Metallurgical Plant, where, in twenty-three years of fruitful work, he advanced career ladder to the position of Director of financial matters enterprises. In 1998 he was appointed CEO joint-stock company Uralshina. In 2001, he took the post of Deputy General Director of the Closed Joint-Stock Company Trading House of the Sinar Pipe Plant, where he dealt with issues strategic development this enterprise. And in 2002 he was appointed Deputy General Director for Financial and Economic Affairs of the Turbine Metallurgical Company. Three years later, he becomes the general director of the closed joint-stock company Sinara. He is also one of the members of the Board of Directors of Volga Pipe Plant Open Joint Stock Company, Sverdlovsk Pipe Plant Open Joint Stock Company, Sinarsky Pipe Plant Open Joint Stock Company, Tagmet Open Joint Stock Company, and SKB-Bank.
TMK CEO Alexander Shiryaev, Interview with Vedomosti
"The state could buy raw materials that can be stored and that will be in demand. With the restoration of demand, these products could be quickly sold. Unfortunately, the state does not offer such measures ..."
“We are not a bank to turn on the counter,” - Alexander Shiryaev, General Director of the Pipe Metallurgical Company
TMK executives are regular participants in anti-crisis meetings of the government and industry. The new CEO of TMK believes that while the state is doing everything right
Newspaper "Vedomosti", No. 227 (2249) dated 01.12.2008
Julia Fedorinova
This year, the Pipe Metallurgical Company (TMK) has become the largest pipe company in the world in terms of capacity. The purchase of Ipsco's American plants, for which TMK paid with $1.2 billion in loans, allowed it to take the first place. But the company has already managed to refinance short loans for $400 million, and negotiations are underway with banks on the remaining debt. In addition, TMK applied to Vnesheconombank for a loan. Recently, VEB allocated $1.8 billion to Evraz Group to refinance loans taken, among other things, for the purchase of Ipsco's Canadian assets, and so far there is no reason to think that the state will refuse TMK in a similar deal. Alexander Shiryaev, who was appointed CEO of TMK at the end of November, tells Vedomosti about how the company is going to develop in the conditions of the global crisis.
Biography 
1998 - General Director of OAO Uralshina
2001 - Deputy General Director of the Trading House of the Sinar Pipe Plant
2002 - Deputy General Director for Finance and Economics of TMK
2005 - Vice President of Sinara Group
2006 - CEO of the Sinara group
2008 - CEO of TMK
Pipe Metallurgical Company (TMK)
The largest pipe manufacturer in Russia
Pipe sales - 2.75 million tons (10 months, 2008).
Financial indicators(IFRS, first half of 2008):
revenue - $ 2.37 billion,
net profit - $ 158.2 million.
The company was founded in 2001. It combines the Volzhsky, Sinarsky and Seversky pipe plants, the Taganrog Metallurgical Plant, the TMK-Artrom pipe plant and the TMK-Resita metallurgical plant (both in Romania).
The main owner is TMK Steel Limited (74.83%), owned by Dmitry Pumpyansky, Chairman of the Board of Directors of TMK. Capitalization of TMK on the LSE - $1.2 billion, has fallen by almost 8 times since the beginning of the year.
What is the reason for your appointment at TMK? Are you a crisis manager? Konstantin Semerikov, who led the company before you, did not cope with the tasks set?
Of course, I have experience of working in crisis situations in the dashing 1990s or in 1998 in conditions of the most severe non-payments. But my assignment has nothing to do with it. The fact is that this year, with the purchase of American pipe plants, TMK finally turned into a global company. In this regard, there was a need to change approaches to management. TMK will become the center for the adoption of strategic and financial solutions, and operational management in the field will be transferred to the heads of the divisions that we plan to create. So far there will be three of them: Russian, including the CIS, European and North American. The formation of the latter has already been completed: it is led by Pyotr Golitsyn ( former member of the Board of Directors of TMK and the head of the Russian representative office of BASF. - "Vedomosti"). I will be engaged in the formation of a new structure, and then the leadership. My appointment does not mean that my predecessor, Konstantin Semerikov, failed to cope with something. He is a great professional with vast experience in the industry. He is now simply entrusted with new tasks and functions - in the post of general director of TMK Trading House.
Have you signed a contract for a long time?
- For a year. According to TMK's charter, the powers of the general director must be confirmed annually.
How did the crisis affect TMK?
The pipe market has narrowed. This is especially true for the general-purpose pipe segment: demand from engineering, housing and communal services and construction enterprises has fallen. In October (compared to September), this segment for welded pipes decreased by 28%, for seamless pipes - by 5%. And when compared with October last year, the fall was 21% and 16%, respectively. In the segment of oil and gas pipes, mainly for us, demand by the end of the year, according to our estimates, will fall by 10%, but in general it will be stable. In the segment of large diameter pipes, consumption decreased by more than 40% over 10 months due to the postponement of the implementation of major projects such as Nord Stream and ESPO.
The production of general purpose pipe, where the reduction is taking place, is a low-income segment; in the production of pipes in the oil and gas segment, the drop is not so big. Of course, we have to reduce production in Russia, but to a lesser extent than our competitors. In October Russian enterprises TMK produced 12% less than last October, but 5% more than the previous month. We benefit from this - in October, TMK's share of the Russian market increased to 29% from 27.8% in September. As for large-diameter pipes, our negotiations with Gazprom and Transneft give reason to believe that there will be more orders next year.
Finally, we compensate for declining volumes in Russia with TMK Ipsco's work, which turned out to be better than planned. 70,000 tons were shipped in August 2008, over 86,000 tons in September, and 95,000 tons in October. this year. In addition to TMK Ipsco, the investment projects we have implemented will also contribute: a continuous pipe-rolling plant for the production of seamless pipes (PQF) at the Taganrog Metallurgical Plant and a line for the production of large-diameter longitudinally welded pipes at the Volzhsky Pipe Plant.
In the US, demand, it turns out, has not fallen at all if Ipsco is ramping up production?
Of course, the crisis has also affected the American oil and gas industry. We expect some contraction in demand as lower oil prices and natural gas makes production from unconventional wells unprofitable. Some small players will be forced to freeze their projects or leave the market altogether. But the structure of the American market is diversified - there are a large number of pipe consumers and a well-developed distribution network, which makes it possible to stop the fall and avoid sharp jumps. In addition, the American market for oil and gas pipes is the largest in the world. At the same time, it has a large share of imports, especially Chinese. And we predict increased competition. But we feel quite confident in the competition, as TMK Ipsco is a traditional supplier of pipes for a number of American oil and gas companies. We forecast that the market in our segments will decline by no more than 15%.
And in Russia, your main clients - Gazprom, oilmen - now pay for pipes?
- Gazprom is a first-class client with a 100% payment reputation. Its receivables are a normal phenomenon associated with the planning and implementation of Gazprom's investment projects. We are constantly in contact with Gazprom and are trying to resolve the accumulated issues. The receivables of our Russian clients now amount to about 11 billion rubles.
How much of this amount is in arrears?
- We are not a bank, to clearly say: everything, with tomorrow turn on the counter, calculate interest. We are flexible in our relations with clients and are able to negotiate with them.
Do you pay your suppliers yourself?
TMK's debt to suppliers is less than our accounts receivable. We are connected with our suppliers, have been cooperating for a long time and always find a common language, including on such complex issues.
What anti-crisis measures are being introduced at TMK?
This is not the first crisis that we are going through, and what to do is, in principle, clear. Measures are standard: we are auditing operating and capital costs, reducing and postponing non-priority ones, and optimizing management personnel. Our strategy was developed in 2005 and envisaged the implementation of a large investment program worth $2.5 billion. In the main, this program was completed - fortunately, even before the crisis began. We spent $1.7 billion on modernization. In addition to the continuous PQF mill, a new thermal department was introduced at Tagmet; an electric steel-smelting complex at the Seversky Pipe Plant, a thermal department at the Sinarsky Pipe Plant and many other smaller, but no less important projects. As a result, we increased pipe production capacity by 1.3 million tons, heat treatment capacity by 740,000 tons per year, and electric steel production by 1 million tons per year. And we got all this this year. Starting in 2009, we will significantly reduce our purchases of third-party billets, which is especially important during a crisis of liquidity and confidence. The remaining part of the investment program is the construction of an electric steel-smelting complex at Tagmet and a complex of continuous rolling mill FQM at the Seversk plant. We will not implement these projects in 2009. We plan to postpone the active phase of their implementation to 2010. But we will definitely do it. Also, we do not change our plans for the development of the service direction. We can already say that we are partly a company in the engineering industry - we manufacture products at the intersection of engineering and metallurgy. After all, the mechanical processing of pipes carried out by us is closer to mechanical engineering. We already have the Orsk Machine-Building Plant, which was re-profiled to produce locks for drill pipes. Now it is part of the TMK Oil and Gas Service division. We also created the TMK Premium Service subdivision, which specializes in pipes with premium threaded connections.
You cut costs. Will you now buy out 49% of the shares of the NS Group plant (owned by Ipsco) from Evraz Group? The amount of the transaction is fixed at $500 million, which is quite a lot now.
Certainly. We always fulfill our obligations.
How many employees does TMK lay off?
No targeted layoffs are expected at the company's plants. However, the optimization of staff by limiting admissions and further implementation of the outsourcing program will lead to a significant reduction in the number. By the way, over the past four years, we have reduced our headcount by about 10,000 people as part of an outsourcing program. At the same time, everyone is provided with work and we have maintained normal relations with trade unions. The commissioning of new capacities will make it possible to redistribute people between divisions of enterprises, which will contribute to smooth optimization.
TMK has a rather large debt - about $3 billion. In a crisis, this is a problem. It is believed that the capitalization of the company is falling largely because of this. Do investors have reason to worry?
Now the ratio of debt to EBITDA is approximately equal to 3. But the situation is not critical. We successfully refinanced a short-term debt due this year. Next year we plan to gradually reduce the level of debt. We will also shift the debt to a longer one. Negotiations on this matter are already underway, and they are successful.
How much will EBITDA increase?
Now any estimates and forecasts are conditional. But for now, we think it will [grow] by 10-20%. This will happen due to the consolidation of TMK Ipsco and completed investment activities.
Did you apply to VEB for money?
Yes. There is now generally a “folk trail” to VEB. (Smiling.) (Shiryaev refused to name the size of the application. - Vedomosti)
In general, from your point of view, is it not dangerous to take loans from the state now? This is not the first step towards nationalization?
No. This is real state support for business, and for us it is one of the opportunities to get money where it is. The government's actions to support the basic sectors of the economy, which include the oil and gas complex and metallurgy, are logical and justified. Stability in these industries insures against a general economic collapse, which means it prevents negative social consequences.
In your opinion, how fair is it that state-owned banks lend money to the real sector for market conditions? After all, there are no discounted rates.
There will be no such rates on loans as before. Everyone understands this. Yes, the state allocated cheap money to the banks. But it will also require the banks to return them. Therefore, banks take risks by lending to companies. This risk is converted into a bet.
You recently attracted a loan from VTB. What are state-owned banks asking for as collateral now?
From borrower to borrower, I think it varies. We have fixed assets, working capital.
Thanks to the crisis, all assets fell in price. Do you see merger opportunities for TMK now?
No other company in the world currently has such capacities as TMK has. We improve what we already have. And although everything is cheap now, it is not the time for shopping. If something really falls, we are ready to raise it, but even then we will think about it. (Smiling.)
Have you started negotiations on long-term contracts for next year with suppliers and customers? What price formula and terms of its revision do you consider optimal?
We have a long-term agreement with MMK, and we expect to conclude it with others. Optimal, from our point of view, would be contracts for three years with price revision quarterly, depending on changes in various indices. They should be tied to inflation, changes in prices for raw materials, etc. The Ministry of Economy and the Federal Antimonopoly Service want to develop a universal formula. But so far we can hardly imagine how this can be done.
Do you think it's time to introduce government procurement to support the metallurgy and pipe industry?
- The formation of state reserves could be one of the measures to stabilize the economy. The state could buy pipes, copper, aluminum, cast iron from enterprises, that is, raw materials and materials that can be stored and that will be in demand. With the opening of markets and the restoration of demand, these products could be quickly sold. True, the state, unfortunately, does not offer such measures.
Was it a pity to leave the Sinara group, which you led for several years, for the sake of TMK?
- Sinara is a very interesting project. But, on the other hand, which hand is more valuable to you? Right or left? Both are needed. In recent years, we have brought Sinara to a certain level, formed and approved a development strategy. Ambitious and professional management works there. Sinara has several main areas of investment that it will develop. One of them is transport engineering. So far, we have created a small but very promising holding - Sinara Transport Machines (STM). It includes the Ural Railway Machine-Building Plant, the Lyudinovsky Diesel Locomotive Plant - it is possible that the Ural Diesel Engine Plant will soon [enter]. STM created a new electric locomotive from scratch and put it into production. In the locomotive building market of Russia and the CIS countries, the holding's goal is to gain a share of up to 40% in freight electric locomotives and up to 50% in shunting diesel locomotives, as well as to enter new sales markets. Over time, I think this company can become a serious competitor to Transmashholding. The second strategic direction for Sinara is development, the company has projects in Yekaterinburg, Volgograd, Sochi. And finally, the third direction is financial, SKB-bank. Among the largest banks in Russia, according to various indicators, it occupies positions from 70th to 60th. We are successfully developing this bank, here we have a reliable partner - the EBRD with a 25% share. Sinara recently acquired the Sverdlovsk Provincial Bank, which will be merged with SKB.
Has the group's assets ever been valued?
We did it for ourselves. According to our estimates, in relation to TMK, the Sinara group is five times smaller.
14 years with Pumpyansky
Shiryaev met the future owner of TMK, Dmitry Pumpyansky, in 1994 at the Verkh-Isetsky Metallurgical Plant: Pumpyansky was then its commercial director. Shiryaev also participated in the creation of the Pipe Metallurgical Company - in 2001 he negotiated with the MDM group on behalf of the Sinara group on the integration of assets based on TMK. But Shiryaev did not become a major shareholder of these companies. In TMK, according to official data, Shiryaev owns 0.0162% of the shares, and in the Sinara group he participates in an option program for management. “My package [there] is small, but good,” smiles the TMK CEO.
The company was established in 2001 as a closed joint stock company. In 2002, Volzhsky, Seversky and Sinarsky pipe plants became part of TMK. Since 2009, it has taken first place in the world in terms of shipments of pipe products.
Full title: Public Joint Stock Company Pipe Metallurgical Company
Industry: Mining and metallurgical industry
Management: Shiryaev Alexander Georgievich
Story
The company was established in 2001 as a closed joint stock company. In 2002, the Volzhsky, Seversky and Sinarsky pipe plants became part of TMK. In 2005, TMK opened a representative office in China, and the company became OAO TMK. In 2006, securities were placed on the London stock exchange. Since 2009, it has taken first place in the world in terms of shipments of pipe products. In 2013, the company entered into an agreement with the Skolkovo Foundation to establish and host an R&D center at the Foundation's Innovation Center. In 2015, the organizational and legal form of TMK was changed to a public joint stock company.
What does
TMK is largest producer steel pipes in Russia and is one of the top three global leaders in the pipe business. The total volume of pipe shipments in 2016 amounted to 3.46 million tons. TMK's clients include leading oil and gas companies, including Rosneft, Surgutneftegaz, Gazprom, Transneft, LUKOIL, Shell, Eni, Total, Exxon Mobil, Occidental Petroleum, ONGC, Saudi Aramco, Anadarko, Marathon and etc. TMK's shares are traded on the London Stock Exchange, in the US OTC system (OTCQX), as well as on the Russian stock exchange - MICEX-RTS.
Financial indicators
Owners
Management
Shiryaev Alexander Georgievich
Position: CEO
Key persons
Shiryaev Alexander
Position: CEO
From 1974 to 1997 he worked at the Verkh-Isetsky Metallurgical Plant. From 1998 to 2001, he headed Uralshina, was deputy general director of the Trading House of the Sinar Pipe Plant. From 2002 to 2005, he was Deputy General Director of OAO TMK (ZAO TMK). Since 2008 - General Director of TMK.
