TMK’s net profit goes down 45% in January-June 2008
The net profit of Pipe Metallurgical Company (TMK) went down by over 45% in the first half of 2008 and came to $158.2m, the spokesperson for the company reports.
The company reports the reason for this downfall was that a number of the company’s customers put off the deadlines for the completion of some previously developed projects until later. Then, some money had to be spent on production upgrades and pay more for the metal stuffs, as the prices had increased.
In addition, Pipe Metallurgical Company has already announced that they were planning on cutting back on their investment program for 2009 by five times.
The company reports the reason for this downfall was that a number of the company’s customers put off the deadlines for the completion of some previously developed projects until later. Then, some money had to be spent on production upgrades and pay more for the metal stuffs, as the prices had increased.
In addition, Pipe Metallurgical Company has already announced that they were planning on cutting back on their investment program for 2009 by five times.
 | Код для вставки в блог |  | Подписаться на рассылку |  | Распечатать |