Seversky Tube Works' net loss surges by 12.6 times in 2014

Russia's Seversky Tube Works, a subsidiary of the largest Russian pipe company TMK Group, has reported that its net loss was RUB 970.44 million ($16.8 million) in 2014, 12.6 times more than in 2013.

Also in 2014, Seversky Tube Works' sales revenues reached RUB 31.049 billion ($0.54 billion), up two percent year on year.