English
Mittal Steel - Galati posted 167 million RON in net profit for 2006, up from losses of 161 million RON in 2005. The turnover reached 6.08 million RON, compared to 6.35 million RON in 2005. Expenses decreased to 6.27 million RON, from 7.04 million RON in 2005. Utility expenses gained some 68 million RON, whereas personnel expenses gained 56 million RON.
Augustine Kochuparampil, the CEO of Mittal Steel Galati, said: "The main objective was to increase production of value-added products so as to offset increases in the price of utilities, ore and personnel."
The company paid taxes of 512 million RON last year and invested over 49 million USD in technology and 35 million USD in environment care. The overall total of investments made in the first four years after privatization exceeded 450 million USD, compared to pledged investments of 351 million USD in 10 years.
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