TMK sales drop 13%

Pipe Metallurgical Company (TMK) came up with a production performance report for the last quarter of 2009 and for the year 2009 as a whole.

According to TMK’s press service, the company’s shipments kept increasing in the fourth quarter of 2009, which partially made up for the dropping sales in the first half of the year. Nevertheless, the total volume of product shipments to consumers decreased by 13% last year (compared to 2008).

The press service reports TMK believes its financial performance in the second half of 2009 to be significantly better than that in the first half of the year thanks to rising sales and the changes in the structure of these sales.

TMK also says the share of the company’s short-term loan debts had declined down to 34% of the total debt volume by December 31, 2009 compared to 69% on December 31, 2008.

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