Trubodetal Completed Goodwill Audit Under INTERGAZCERT Voluntary Certification System

The Trubodetal Manufacturing Facility (AO Trubodetal, Chelyabinsk, a United Metallurgical Company (AO OMK, Moscow) Subsidiary) has had its goodwill evaluated at 93.41 on a scale of 100. This is the first time in its history that the facility underwent an audit like that. Thus, the facility has reconfirmed its compliance with the requirements of the INTERGAZCERT voluntary certification system.

The audit used an approved procedure that takes account of four factors: history, image, personnel, facilities multiplied by a factor representing validity and abidance by the law. According to the auditors, the goodwill evaluation procedure is completely new. As of the present time, there are only a few facilities, including Trubodetal, that have submitted to it. By including this procedure into its voluntary certification system, Gazprom is assuring that its vendors for trunk pipeline construction projects are selected based on objective criteria.

“Goodwill is an extremely important intangible asset which boosts a company’s market value and lends it an additional competitive advantage”, comments Trubodetal Managing Director Dmitri Markov. “We have had a long and successful business relationship with Gazprom: we supply all the key gas lines with connection fittings and we are the first in the country to start making products to substitute for imports. For the past three years, we have not had any complaints from our key customer which is an indication of the quality of the work we do.”

Background

The INTERGAZCERT voluntary certification system was created by PAO Gazprom Directive No. 751 of November 24, 2016 and is registered in the Central Government Registry of Voluntary Certifications maintained by the Federal Technical Regulatory and Oversight Agency (Rosstandart) as system No. РОСС RU.З1570.04ОГН0.

The goodwill audit was preceded by a certification of the quality management system for compliance under the requirements of Gazprom CTO 900-2012. These steps are a pre-requisite for the facility to be able to participate in tenders for deliveries to Gazprom installations in 2018 and during subsequent years. The nest step is to certify the product itself for compliance with customer specifications and requirements.