In 2016 the consolidated earnings of the United Metallurgical Company totaled 140 billion rubles ($2.47 billion), down by 13% YoY.
At the same time the company claims it has been able to receive high profit despite the decrease of large diameter pipe sales, as well as cleared a considerable part of its debt (56 billion rubles).
Last year OMK sold its US asset – OMK Tube – to SeAH Steel, as well as the Baltic metal terminal in the port of Ust-Luga.
In 2016 OMK produced 1.997 million tons of pipes, down by 18% YoY, including 875 thousand tons of LDP, down by 36%. (Ukrainian metal)