Longhi still sees stimulus funds in 2d qtr.

Dec 03, 2009 | 10:34 AM | Corinna Petry

Gerdau Ameristeel Corp.'s top executive is sticking with his projection that infrastructure-related American Recovery and Reinvestment Act (ARRA) funds will begin to benefit steelmakers as soon as the second quarter of 2010.

During an investor presentation Thursday at Goldman Sachs Group Inc.'s 5th annual Global Steel Conference in New York, Mario Longhi, Gerdau Ameristeel president and chief executive officer, said that although the world has changed, the growth pattern following previous recessions will occur again. However, he projects a "bathtub-shaped" economic recovery rather than a V or U shape.....

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