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TMK Shipments Up in Q4

TMK, Russia's largest maker of steel pipes for the energy sector, said fourth-quarter shipments reached 1.04 million tons, up 0.8 percent from the third quarter, thanks to strong growth in its American division.

Product shipments in the division grew 9.9 percent quarter on quarter to 295,000 tons.

TMK also said it expects some growth in shipments this year. "TMK expects a slight increase in total shipments in 2012 over 2011 given the existing agreements with the company's customers and continuation of current market trends," it said.

(Reuters)

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