Tiantie Metallurgical Group posts RMB 240 million net profit for 2012

Wu Yuhai, general manager and vice president of Chinese steelmaker Tianjin-based Tiantie Metallurgical Group Co., Ltd, has announced that in 2012 the company's annual outputs of pig iron and crude steel amounted to 4.59 million mt and 4.32 million mt respectively, while its finished steel product output totaled 5.8 million mt. In the given year, Tiantie Metallurgical Group's output value was RMB 81.8 billion ($13.1 billion), its operating revenue totaled RMB 78.6 billion ($12.6 billion), while it recorded a net profit of RMB 240 million ($38.5 million).
 
Mr. Wu stated that in 2013 Tiantie Metallurgical Group is targeting a pig iron output of 6.5 million mt, a crude steel output of 6.1 million mt, and finished steel production of 7.5 million mt. Furthermore, the company is targeting an operating revenue of RMB 100 billion ($16 billion) and a net profit of RMB 240 million for 2013.