German high-alloy steel producer Schmidt+Clemens has increased
turnover by 24% in its financial year ending December 2011, the
group said on Thursday May 3.
Turnover came to a total of €289 million ($381.1 million),
compared with €233 million in 2010. The company said this
was due to the successful performance of its spun casting
"Following two weaker years, revenues saw a recovery. While we
managed to increase sales of the group by 24%, the margins
failed to match our expectations," md Dr Henning Kreisel said.
The total balance sheet remained broadly flat year-on-year at