JSW Steel USA losses widen as growth stalls

Oct 30, 2012 | 08:25 AM | Michael Cowden

Tags  JSW Steel, JSW Steel USA, Baytown, plate, pipe, earnings, Michael Cowden

CHICAGO — JSW Steel Ltd. saw losses widen at its U.S. operations in the company’s fiscal second quarter and first half as both its pipe and plate mills in Texas operated at low capacity utilization rates.

The Mumbai, India-based steelmaker said its JSW Steel USA Inc. facilities in Baytown, Texas, lost nearly $13.4 million after taxes during the three months ended Sept. 30, widening from an after-tax loss of some $7.6 million in the same period last year, while the half-year loss widened to almost $21.6 million after taxes from a $17-million after-tax loss a....

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