22
Jun
12:10
Aramco project delay hampers APC first-quarter performance
Arabian Pipes Company (APC) reported a -63% on-year slump in first-quarter revenue to SAR 66.5 million ($17.7m) and the firm turned to a SAR 16.8m loss versus a SAR 8.1m profit a year earlier.
Performance was impacted at the Jubail mill by construction contractors delaying projects for major customer Saudi Aramco. APC already received all feedstock required and produced 80% of the pipe contracted for the projects, the pipemaker says.
Moreover, APC implemented a …
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Anonymous
Very good overview of the weekly steel market.
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