SSAB posts 2d-qtr. loss but company upbeat
Jul 19, 2013 | 02:26 PM
| Catherine Ngai
NEW YORK SSAB Americas, a subsidiary of Swedish steelmaker SSAB AB, posted a second-quarter lossits first dip into the red in four yearson lackluster demand, although it expects positive momentum in the second half of the year.
SSAB Americas posted an operating loss of 49 million kronor ($7.49 million) for the three months ended June 30 in contrast to operating earnings of 537 million kronor a year earlier and 87 million kronor in the first three months of this year.
The Stockholm-based parent said that the second-quarter loss in the Americas was due to a planned outage at its Montpelier, Iowa, facility, along with low inventories at service centers and lower shipment volumes. However, a recent price hike by SSAB, along with some of its U.S. competitors, may help financials going forward.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.