OPEN JOINT STOCK COMPANY INTERPIPE NIZHNEDNEPROVSKY TUBE ROLLING PLANT

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Open Joint Stock Interpipe Nizhnedneprovsky Tube Rolling Plant : Interpipe refutes the information published by Foreign Policy

01/06/2022 | 09:18am EDT
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Back to news2022-01-06


Interpipe refutes the information published by Foreign Policy
On January 4th, U.S. magazine Foreign Policy has published an article "Ukraine Needs a Political Deal at Home to Defend Against Russia" discussing the Russia - Ukraine conflict. This article states the following: "Take some individual examples. Although his metallurgical enterprise continues to actively trade with Russia, Pinchuk's businesses will be threatened if Russian competitors are able to operate freely in Ukraine. Russian metal pipes are two to three times cheaper than the ones produced by Pinchuk's firm."

This paragraph is factually untrue.

Interpipe's products have been under trade restrictions by Russia. From April 2019, Russia has introduced an embargo on imports of Ukrainian seamless pipes, and since February 2021, Russia has introduced an embargo on imports of Ukrainian railway products, which makes it impossible for Interpipe to "actively trade with Russia". Beneficiary of Interpipe - Mr Pinchuk was included by the Russian Federation into the sanctions list against Ukraine, which includes Ukrainian entrepreneurs, politicians, media activists and other Ukrainian nationals.

It is also factually untrue that "Russian pipes are two to three times cheaperthan the ones produced by Interpipe". Interpipe successfully competes against Russian and other producers on international markets, Interpipe exports its products to more than 70 countries, including the United States and Europe; Interpipe's price, quality and level of service is very competitive compared to Russian and other international producers. In Ukraine, Interpipe's domestic market, which accounts only for 20% of sales, imports of Russian products are under reciprocal embargo. However, Interpipe still competes against all of top international competitors like Tenaris, ArcelorMittal, Vallourec and Sumitomo; this competition compels Interpipe to maintain competitive pricing.

Taking into account all these facts, and because these statements are demonstrably false and cause significant harm for business reputation of Interpipe, we are consulting with our US legal counsel on this situation.

About the company:
Interpipe is global producer of steel pipes and railway wheels, based in Ukraine. The company's products are marketed in more than 80 countries all around the world via the network of sales offices located in key markets of Ukraine, Europe, North America and the Middle East. In 2020, Interpipe supplied 662 kt of finished goods, including 192 kt of railway products.

Interpipe has 11 thousand people working at the company's facilities.

Contacts for the mass media:
Andrey Pisarevskiy
Press Officer
Phone: +380 44 233 66 53
Cell: +380 67 952 17 62
Andrey.Pisarevskiy@m.interpipe.biz
www.interpipe.biz




Disclaimer

INTERPIPE Nyzhnodniprovsky Tube-Rolling Plant PJSC published this content on 06 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2022 14:17:01 UTC.


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Managers and Directors
Serhiy Oleksiyovych Kostenko Chief Engineer
Serhiy Volodymyrovych Kuzmenko Director-Finance & Economy
Fadi Khraybe Chairman-Supervisory Board
Oleh Ivanovych Portretnyi Director-Administrative & Economic Issues
Volodymyr Volodymyrovych Babenko Independent Member-Supervisory Board
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