Mittal Group sees loss at Roman, profit at Iasi facility
In the similar period of 2007, PTRO had seen a net record-high profit of 8.3 million euros for a turnover of 135 million euros. Despite that, the company closed 2007 with 12 million euro in the red. In the reports to the Rasdaq over-the-counter market, company representatives did not explain what the source of the loss had been.
The other pipes producer held by Mittal in Romania, ArcelorMittal Tubular Products Iasi (TPRO, east) switched to profit in H1 2008 after a four-year streak of losses following its putting into private hands. The company reported a net profit of 4.7 million euro, from losses of 2.5 million euros in the first half of 2007. The company turnover advanced 32% to 38.7 million euros. The company's value on the stock exchange is 14.5 million euro.