Joint Stock Company Chelyabinsk Tube-Rolling Plant (“ChelPipe”) is a leading Russian producer of welded and seamless steel tubes & pipes for the Russian oil & gas industry and a variety of other industries in Russia. ChelPipe’s overall strategic objectives are to strengthen its leading position as a steel pipe producer for the Russian market and to become a leading supplier of integrated solutions for oil and gas distribution and production in Russia. In line with these overall strategic objectives, since 2003 ChelPipe has modernised all of its major steel pipe production facilities and it has recently constructed state of the art LDP production and OCTG and line pipe finishing facilities, as well as a new state of the art electric arc furnace mini-mill for the production of steel billet used in seamless pipe production. ChelPipe has also acquired several oilfield services businesses which produce oil well extraction equipment and provide a number of other products and services for various stages of an oilfield’s development and several trunk pipeline equipment businesses that produce highly customised components for the construction of oil and gas pipelines.

For the year ended 31 December 2009, ChelPipe had consolidated revenue of RUR 56,079 million, EBITDA totaled RUR 4,841 million and net loss amounted RUR 6,552 million.

As of 31 December 2009, ChelPipe and its subsidiaries had 24,834 employees.