Tax credit end may be bad news for plate

Sep 21, 2012 | 04:38 PM | Frank Haflich

Tags  steel plate, wind towers, SSAB Americas, Jeffery Moskaluk, Siemens Energy, Frank Haflich

SEAL BEACH, Calif. — One of steel plate’s most important emerging markets is bracing for a "significant" drop in the fourth quarter due to the threat of a year-end tax credit phaseout that’s already causing cutbacks, according to an executive of SSAB Americas.

Jeffery J. Moskaluk, chief commercial officer of the Lisle, Ill.-based plate producer, told an Association of Women in the Metal Industries meeting that the end of a tax credit for renewable energy production could put a serious dent in the construction of wind turbine towers—possibly by as much as two-thirds, according to some wind energy industry studies.....

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