Quanex hurt by tight metal spreads
Jun 07, 2013 | 05:14 PM
| Michael Cowden
CHICAGO Quanex Building Products Corp. continued to spill red ink as a tight scrap market and low aluminum prices hammered its Nichols Aluminum LLC subsidiary and sluggish demand for high-end windows for the repair and remodeling (R&R) sector hurt its engineered products group.
New housing starts have increased thanks to growing demand for multifamily units, but the R&R window market has "remained challenging," the Houston-based company said. While Quanex said it expects window shipments to gain in 2013, it predicts that most of the increase will be for low-end windows for the new-construction sector instead of high-end windows for R&R, where Quanex has a stronger presence.....
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