Steel pipe and railway wheels producer Interpipe has signed a contract with Finnish Steel service centre Finnish Ore Oy. Interpipe will supply steel pipes via Finnish Ore Oy for the building of the giant cruise ship "Allure of the Seas" to be constructed by the international shipbuilding group STX Europe. Interpipe will supply seamless hot-formed construction pipes to be used in building the deck along the perimeter of the vessel.
The Oasis-class cruise ship 'Allure of the Seas', to be built in the Turku yard in Finland, will be a sister ship of the biggest cruise ship in the world, 'Oasis of the Seas' of cruise company Royal Caribbean International. The new ship will have a displacement of 225,000 gross tons, a length of 360 m, a width of almost 50 m and a height of 73 m.
Representatives of the stock holding company Finnish Ore Oy and the shipbuilding group STX Europe have visited Interpipe's mills and conducted an internal audit of the manufacturing technologies employed to ensure the pipe products are produced in accordance with the two companies' high quality standards.
Oleg Kuzmin, Director for Corporate Affairs at Interpipe, said:
"Interpipe highly values the opportunity to assist with the building of giant cruise ship 'Allure of the Seas' and we look forward to working closely with Finnish Ore Oy during this project. The realization of the project will enable Interpipe to expand its sales within the Northern European market and improve its presence in the shipbuilding industry."
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Background information on INTERPIPE
INTERPIPE is a major global producer of steel pipes and 2nd largest producer of forged railway wheels in the world with total revenue of $1.8 bn. in 2007.
Interpipe is an export oriented company with 71% of its revenues derived from export sales in 2007 supplying products to 76 countries around the world. INTERPIPE has a network of sales offices in Ukraine, Russia, Kazakhstan, Europe, the USA and the Middle East.
In 2007 Interpipe mills produced 1,472 million tons of steel pipes and railway wheels.
In 2007 Interpipe produced 62% of its pipes for the Oil and Gas industry, 35% for industrial applications and approximately 3% for mechanical engineering. The company's production assets are based at three Ukrainian mills in the Dnepropetrovsk region.
The IFRS consolidated financial statements for the year ended 31 December 2007 were audited by Ernst & Young (www.ey.com)
© Press Release 2008
