Russia's TMK, one of the world's top-three oil and gas industry pipe producers, forecasts it closed 2008 with sales revenue of 5.8 billion dollars and earnings before taxes, depreciation and amortization (EBITDA) of more than 1 billion dollars, the company said in a trading update on February 3. TMK had revenue of 4,179 billion dollars and EBITDA -931.5 million dollars in 2007, so revenue could have soared 38 percent and EBITDA - more than 7 percent in 2008.
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