Chelyabinsk Tube-Rolling Plant (ChTPZ), a leading Russian producer of welded and seamless steel tubes and pipes for the Russian oil and gas industry, has announced that in 2014 it achieved a net profit of about Ruble 1.573 billion ($27.4 million), compared to a net loss of Ruble 147 million ($2.56 million) in 2013. The return to profitability was due to increased sales.
Also in 2014, ChTPZ's sales revenues increased by 17 percent year on year, reaching Ruble 97.185 billion ($1.69 billion).