CMC Poland ops hit hard by ‘deluge’ of imports
Jan 08, 2013 | 11:30 AM
| Michael Cowden
Tags
Commercial Metals,
CMC,
Barbara Smith,
Joe Alvarado,
earnings,
first quarter,
CMCZ,
Zawiercie
Poland
CHICAGO — Commercial Metals Co.’s (CMC’s) steel mill in Zawiercie, Poland, continues to be hit hard by a “deluge” of imports and slack demand resulting from the European economic crisis, CMC executives said Monday.
CMC Zawiercie SA (CMCZ), the Irving, Texas-based steelmaker’s Polish subsidiary, recorded adjusted operating income of just $876,000 in its fiscal 2013 first quarter compared with $9.8 million in the year-ago period, CMC chief financial officer Barbara Smith said during a conference call to discuss earnings results Monday. ....
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