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Article: Salzgitter in Q3 loss of 67 million
- Article from:
- AP Worldstream
- Article date:
- November 12, 2009
- Author:
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German steelmaker Salzgitter AG reported a loss for the third quarter Thursday due to a sharp drop in steel demand and sales amid the economic downturn.
The company, based in the town of the same name, said it lost ⁈lion ($101 million) in the July-September period compared with net income of ⁈llion in the third quarter a year ago.
Revenue for the third quarter fell 47 percent to ⁈llion from ⁈llion a year ago.
Salzgitter, Germany's second largest steelmaker after ThyssenKrupp AG, predicted income for the year as a whole will be satisfactory, but not at the record level of 2008. In 2008, the company reported net income of ⁈llion on revenue of ...