10
Jun
11:55
Arabian Pipes posts loss, seeks capital restructuring
Arabian Pipes Company (APC) saw revenue drop 50% on-year in 2020 to SAR 369.2 million ($98.5m), the Saudi pipemaker says in its delayed annual earnings statement. Net loss was SAR 195.3m versus a year-earlier profit of SAR 30.2m, as the Covid-19 pandemic impacted the company’s performance, Kallanish notes.
The pandemic led to the suspension of work at some production lines, reduction in working hours and days of the company, and delays in the schedules of de…
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Anonymous
Very good overview of the weekly steel market.
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