26
Jan
11:56
Maintenance, JV bailout drag SSP to Q4 loss
Saudi Steel Pipe Co. (SSP) sunk to a net loss of SAR 1.3 million ($346,548) in the fourth quarter of 2015 versus a profit of SAR 5.3m in the year-earlier quarter. This was because of the shutdown from September of the firm’s medium-diameter pipe mill for maintenance, and the provision of SAR 1.5m to a joint venture partner.
The maintenance comprised the replacement of mill parts and “… preventative maintenance” on other parts of the line…
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Anonymous
Very good overview of the weekly steel market.
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