SSAB Americas swings to profit in quarter

Oct 25, 2013 | 02:08 PM | Catherine Ngai

Tags  SSAB, SSAB Americas, Martin Lindqvist, steel plate, price hikes, Catherine Ngai

NEW YORK — SSAB Americas returned to profitability in the third quarter thanks to recovering plate prices and a gradual improvement in the U.S. economy.

The Lisle, Ill.-based steelmaker, a subsidiary of Stockholm-based SSAB AB, posted operating earnings of 53 million kronor ($8.4 million) for the three months ended Sept. 30 in contrast to a 49-million-kronor loss in the second quarter, although they were down 78.9 percent from earnings of 251 million kronor in the third quarter of last year.....

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