Support The Moscow Times!

Pipe Maker TMK Profitable

TMK, a producer of pipes for the oil and gas sector, said Friday that it swung to a $104 million net profit in 2010 from a year-earlier loss.

The pipe maker is experiencing strong demand in its home market as well as sharply higher sales in North America, where its TMK IPSCO unit supplies equipment for gas drilling in the Marcellus Shale field in the eastern United States.

It expects shipments to rise by about 10 percent in North America and 7 percent in Russia this year. TMK's 2010 earnings before interest, taxes, depreciation and amortization reached $942 million, up from $328 million in 2009. Revenue reached $5.58 billion last year, up from $3.46 billion in 2009.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more