Arcelor Mittal Galati doubles profit in 2007
According to consolidated financial results made public late last week by the Ministry of Economy and Finance (MEF), ArcelorMittal Galati reported in 2007 a turnover worth 6.9 billion lei (2.1 billion euros), up by some 23% as against thje previous year and net profit of some 324 million lei (98.4 million euros), up 106% compared to net profit reported in 2006.
Profit of ArcelorMittal Galati in 2007 accounted for 1.4% from the result obtained at global level, daily Business Standard reports. According to sources close to the company, the rise might be explained through the portfolio of products with added value to which the plant has directed lately, but also the rise in the delivered products, given the upward trend al world level.
According to the information carried by the ministry of economy and finance, Silcotub Zalau (center Romania), owned by Tenaris group, reported net profit worth 27.8 million euros, double as against the previous. The growth of the profit took place because of the rise in turnover from 179 million euros to 223 million euros. TMK Artrom (Slatina, south) owned by Russian group TMK decreased profit threefold from 18.4 million euros in 2006 to 6.4 million euros.