Artrom posts 4.2m-euro profits

Piping maker Artrom Slatina, which is part of the Russian TMK Group, the second leading manufacturer of pipes in the world, made net profit of 15.1 million RON (4.2 million euros) in the first nine months of the year, over four times higher than in the corresponding period of last year. The turnover went up by 85%, to over 290 million RON (80 million euros), given that Artrom increased both its production volume and the added value of the products supplied to clients. “The good results this year are the outcome of the investments made thus far. The investments in the last few years targeted changes of the technological workflow, the broadening of the product range and the improvement in product quality, which allowed us to tap into new market segments,” Adrian Popescu, Artrom”s general manager stated. ZF