Klöckner posts loss despite strength in US

May 09, 2012 | 02:39 PM | Corinna Petry

Tags  Klockner, Macsteel, earnings, outlook, European debt crisis, steel, Corinna Petry

CHICAGO — Klöckner & Co. SE’s 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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