Klöckner strategy keyed to boost US profits
Nov 07, 2013 | 04:32 PM
| Corinna Petry
CHICAGO Although Klöckner & Co. SE will remain in a cost-cutting mode through the end of 2013, including at U.S. subsidiary Kloeckner Metals Corp., it expects to improve profits in the region by revising its U.S. sales strategy. Thirty-eight percent of the parent companys global sales come from the United States.
Klöckners Americas segment reported sales of 594 million ($797.7 million) during the third quarter, down 14.9 percent from the same period a year ago, but earnings before interest, taxes, depreciation and amortization (Ebitda) after restructuring expenses grew 41.7 percent in the same comparison.....
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