Interpipe is a major producer of seamless pipes and railway wheels. In 2004, Pinchuk and Rinat Akhmetov, two of Ukraine's richest men, acquired the Kryvorizhstal steel factory for about $800 million. President Leonid Kuchma, who is Pinchuk's father-in-law, authorized the state asset sale, which competitors complained was far below market rate. Later, the first Tymoshenko government reversed this sale, and held a nationally televised repeat auction that netted $4.8 billion. In 2006, Pinchuk founded an investment advisory company, EastOne. Its portfolio includes industrial assets such as production of pipes and tubes, rail car wheels, specialty steels and alloys, machinery, as well as media.