Klöckner rationalizes capacity on weak EU
Nov 08, 2012 | 04:58 PM
| Corinna Petry
CHICAGO Independent steel and nonferrous metals distributor Klöckner & Co. SE posted a third-quarter net loss of 28 million ($35.7 million) on a 2-percent downturn in global sales, in large part due to economic weakness in Europe and consistent price pressure on steel products over the past six months.
Klöckner, which merged its North American distribution network (Namasco) with Newport Beach, Calif.-based Macsteel Service Centers USA Inc. last year, did report stronger nine-month salesup 7.4 percent to 5.76 billion ($7.34 billion)largely on growing strength in the North American market.....
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