TPT January 2012

I ndustry n ews Expansion of seamless tubular products SUMITOMO Corporation has acquired a 19.47 per cent interest in V&M Two LLC, a manufacturer of small diameter seamless steel pipe based in Ohio, USA, from Vallourec SA. Development of unconventional energy resource has recently been growing in the US, including oil and gas shale plays, for which production is expected to expand over the medium- to long- term. Concurrently, demand for the small diameter seamless OCTG used in these shale plays is increasing. V&M2 will manufacture these pipes and supply them to the major shale plays such as Marcellus Shale in Pennsylvania, one of

Helping hand OKLAHOMA-based Samson Investment Company and a number of its peers in the energy industry – including several pipe companies – joined together late last year to offer a helping hand to families in need. Samson was one of the local sponsors of the inaugural Oilfield Helping Hands Oklahoma Golf Tournament, held at Meadowbrook Golf Course in Tulsa. Through fundraising events Oilfield Helping Hands assists oilfield families in critical need of financial support. OHH focuses on raising money and keeping costs down to help someone in the immediate oilfield community. Funds raised during the golf tournament – totalling over $30,000 – will be donated to members of the Oklahoma-based oilfield families who are in critical need of financial assistance due to major medical crises and other life-altering events. Oilfield Helping Hands – USA Website: www.oilfieldhelpinghands.org

the largest OCTG consuming areas in the US. V&M2 has commenced construction of a production facility to manufacture small diameter seamless steel pipes on a property adjacent to the premises of V&M Star LP, another Ohio-based seamless steel pipe manufacturer, in which Sumitomo owns a 19.47% interest. The initial investment amount of the new steel pipe mill is approximately $650mn. It is scheduled to be completed for operational launch by mid-2012 and planned to go into full commercial operation by the end of the year with an annual output capacity of 350,000 tons. By taking a stake in V&M2, Sumitomo aims to enhance its seamless tubular products business in the United States and strengthen its long-term alliance with Vallourec. In relation to this, V&M2 is planning to integrate its business with that of V&M Star in the future. Sumitomo intends to leverage this integration to expand its business in the US market.

Sumitomo Corporation – Japan Website: www.sumitomocorp.co.jp

CON.T.R.A.S.T.

www.contrastsale.com

info@contrastsale.com

Impeder core for high frequency welding of tubes

Fiberglass pipes for impeder core

Tungsten carbide insert for outside tube scarfing

HSS-DMo5 saw blades & friction circular saw blades

CON.T.R.A.S.T. 30026 PORTOGRUARO - Italy - Via Umbria, 15 Tel. ++39.0421.271699 Fax ++39.0421.770571

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J anuary 2012

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