Cascade's rebar sales up in 2d qtr. but total revenues down
Apr 04, 2013 | 04:50 PM
| Samuel Frizell
NEW YORK Schnitzer Steel Industries Inc.s steel manufacturing unit, which operates as Cascade Steel Rolling Mills Inc., logged a profitable fiscal second quarter on the back of improved rebar sales, even as it saw total steel sales drop 16 percent year over year as a result of easing coiled product demand and import competition.
Although Portland, Ore.-based Schnitzers steel sales fell to $71 million in the second quarter ended Feb. 28 from $85 million in the same period last year, the company expressed optimism about the burgeoning West Coast construction market during an earnings call with investors April 3. ....
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