Azerbaijan, Baku, Nov. 4 /Trend E. Kosolapova/
The Kazakh Titanium-Magnesium Plant in Ust-Kamenogorsk city increased net profits by 7.1 times to 3.151 billion tenge in January-September compared to 441.9 million tenge in the same period of 2010, Novosti-Kazakhstan reported referring to the consolidated financial statements of the plant.
The plant's revenue increased by 1.8 times to 20.847 billion tenge in the reporting period, gross profit increased by 4 times to 5.023 billion tenge.
The Ust-Kamenogorsk Titanium-Magnesium Plant produces titanium sponge of high quality and magnesium MG90 to use in the aviation and other industries.
The plant owns 49 percent of shares in Satpaevsk Titanium Mines Company. It explores and produces ilmenite in eastern Kazakhstan.
Belgian Specialty Metals Holding Company with 45.03 percent of shares is the largest shareholder of the plant as of October, 1.
The officil rate as of November, 4 is 147,91 tenge per $1.