SSAB Americas’ earnings plunge 73% in qtr.
Feb 08, 2013 | 03:55 PM
| Catherine Ngai
NEW YORK SSAB Americas, a subsidiary of Swedish steelmaker SSAB AB, saw its fourth-quarter earnings plunge due to depressed demand and falling U.S. prices.
"(Last year) was a very challenging year for the steel industry and SSAB," president and chief executive officer Martin Lindqvist said during a conference call Feb. 8.
SSAB Americas posted operating earnings of 110 million kronor ($17.06 million) for the three months ended Dec. 31, down 73 percent from 414 million kronor in the same period a year earlier.....
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