Plant TMK increased profits

JSC "Seversky Pipe Plant in the I quarter of 2011 net profit to 145 million rubles. This was stated in the company. A year earlier the figure was estimated at 23,637,000 rubles. In turn, the company achieved revenues of 6.996 billion rubles. Earlier it was reported that the Russian Gazprombank lends Seversky Pipe Plant in the amount of not more than 6.275 billion rubles., Including interest for the entire period of the loan. This three-year loan is drawn to refinance current debt with the improvement in credit conditions. Note that the term of the obligations under the transaction will expire after March 31, 2014. Recall that the Seversky Pipe Plant in the III quarter of 2010 was a net loss of 230 million rubles. The company receiving the loss associated with the revaluation of foreign currency liabilities recorded in other expenses. The company is part of the TMK. Ministry of Industry