Piperoller Buys Oil Outfitter
Rimera, the service division of the Chelyabinsk Pipe-Rolling Plant founded last year and headed by Vladimir Khristenko, son of Industry and Trade Minister Viktor Khristenko, has made its second major acquisition of the year. Rimera has obtained 24.8 percent of the voting stock in Izhneftemash, one of Russia’s largest producers of oil production equipment. In September, when the deal is closed, the company will obtain control over Izhneftemash. Rimera declined to reveal the value of the deal or the identity of the former owner of the stock.
Observers think that Izhneftemash had been control by its management, including president Takhir Dautov. Izhneftemash published the results of an unscheduled shareholders meeting yesterday, at which a new board of directors was elected. Six out of seven seats went to Rimera and Chelyabinsk Pipe-Rolling Plant representatives. The seventh seat went to Alexander Pribludov, a member of the Bryansk Region bar association.
Izhneftemash (Udmurtia) has receipts of 1.38 billion rubles in 2007 and net profit of 51.9 million rubles. Its capitalization on the RTS board is $9.5 million. Its main customers are Tatneft, Surgutneftegaz, TNK-BP, Rosneft, Bashneft and Gazprom Neft. It produces a wide range of oil drilling and producing equipment occupies about 70 percent of its market. Izhneftemash has had long looked for an investor. Dautov reported in 2006 that he was negotiating with the American oil field service company Weatherford. A Kommersant source says that the Russian service company Integra also showed interest in Izhneftemash, but Integra spokesmen deny that.
At the beginning of the year, Rimera acquired 75 percent in OAO Alnas, which makes electrical pumps and motors for the oil industry. Alnas occupies about 40 percent of its market.
www.kommersant.com
All the Article in Russian as of Aug. 21, 2008
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Photo: Dmitry Lebedev
