Chelyabinsk Tube-Rolling Plant (ChPTZ), a leading Russian producer of welded and seamless steel tubes and pipes for the Russian oil and gas industry, has announced that in 2011 it achieved a net profit of about Ruble 1.259 billion ($43.14 million), compared to Ruble 2.678 billion ($91.8 million) in 2010.
Also in 2011, ChTPZ's sales revenues increased by 1.8 times year on year reaching Ruble 76.645 billion ($2.6 billion).