Klöckner posts loss despite strength in US
May 09, 2012 | 02:39 PM
| Corinna Petry
CHICAGO Klöckner & Co. SEs market share and sales growth in North America failed to offset a sharp decline in European steel demand during the first quarter.
The Duisburg, Germany-based international service center operator reported a net loss of 10 million ($13 million) in the three months ended March 31, in contrast to net income of 43 million in the same 2011 period, despite a 22.6 percent rise in revenue to roughly 1.95 billion ($2.53 billion). Steel shipments during the period also improved 24 percent to 1.9 million tons, gains that the company attributed to its 2011 acquisition....
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