Outokumpu optimistic about Calvert
Feb 14, 2013 | 04:30 PM
| Daniel Fitzgerald
Tags
Outokumpu,
Calvert,
Outokumpu Stainless Coil Americas,
stainless market,
stainless demand,
North America,
Mika Seitovirta,
Daniel Fitzgerald
NEW YORK — The North American stainless steel market will likely grow 3 percent this year, Outokumpu Oyj has forecast, creating "good momentum" for the ramp-up of the company’s Calvert, Ala., facility.
The company’s North American division, which it hopes will reach positive earnings by 2014, recorded a €200-million ($267.2-million) loss in 2012, which Outokumpu chief executive officer Mika Seitovirta said in an earnings presentation was due primarily do nonrecurring costs associated with the ramp-up of the Calvert facility.....
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