TMK Artrom Slatina targeting 200m euros in 2008

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Pipeline producer Artrom Slatina, part of Russian group TMK, targets sales worth 199.6 million euros this year, up 42 percent and a 36-percent rise in profit to 7.8 million euros, according to a report of the company sent to the Bucharest Stock Exchange where it is listed.
 
The plant’s revenues, one of the most important players on the relevant domestic market, are appraised at 200.3 million euros, which would mean a rise of 16 percent compared to 2007.
 
The company’s profit in 2007 stood at 5.7 million euros, three times lower as against 2006, on revenues of 172.2 million euros, up 57.8 percent and rising sales, accounting for 55 percent namely of 140.5 million euros.
 
The company announced investments worth 8.8 million euros in 2008 and an output of 209,800 tonnes of pipelines.
 
Through the subsidiary TMK Europe, the Russian group TMK holds an 80.55 percent stake in Artrom Slatina. Other shareholders are financial investment company SIF Oltenia (12.19 percent) and various private investors (7.24 percent), according to the company’s reports.
 
The same company also owns TMKL-Resita in Romania, which manages the assets of former iron&steel plant based in Resita.
 
The main competitors are ArcelorMittal, Mechel and Tenaris.
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