Printer Friendly

WCI STEEL REPORTS PROFITABLE 1991 FISCAL YEAR

 WCI STEEL REPORTS PROFITABLE 1991 FISCAL YEAR
 WARREN, Ohio, Dec. 18 /PRNewswire/ -- WCI Steel, Inc., formerly


Warren Consolidated Industries, reported positive net income for its fiscal year ending Oct. 31, 1991. The privately held company shipped 1,135,000 tons while net sales totaled $507 million. During fiscal 1990, the company shipped 1,247,000 tons with sales revenues totaling $588 million.
 "During the past 12 months, we have worked very hard as a company to control and reduce costs, complete our $130 million ladle metallurgy facility (LMF) and continuous slab caster project, while enduring the effect of a weak economy which has dramatically impacted steel pricing," said James V. Stack, WCI Steel president and chief executive officer. "We have been successful in the cost area and our LMF is operating well. We expect to have a smooth caster startup this month. Our goal is to offer customers a 100 percent cast product by the third quarter 1992.
 "The U.S. economy appears to be slowly struggling out of the recession," continued Stack. "We look to a stronger steel market by mid-1992, an improvement in orders for higher margin products along with improved steel prices reflecting higher demand. All of these factors must come together to improve our revenues in the coming year," added Stack.
 WCI Steel, Inc. produces quality engineered flat rolled steels and contractor products for the automotive, appliance, metalworking, electrical machinery, steel service center and construction industries. Products include hot and cold rolled sheet and strip, hot-dipped galvanized products, silicon electrical steels and nickel-flash terne products in carbon, high carbon, alloy and high strength grades.
 -0- 12/18/91
 /CONTACT: John G. Walter, director-public affairs of WCI Steel, Inc., 216-841-8218/ CO: WCI Steel, Inc. ST: Ohio IN: MNG SU: ERN


KK -- CL004 -- 3258 12/18/91 08:50 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 18, 1991
Words:302
Previous Article:CONSOLIDATED PRODUCTS' S.M. HUSE RESIGNS
Next Article:NEORX RECEIVES $9 MILLION FROM DAVID BLECH
Topics:


Related Articles
ROANOKE ELECTRIC STEEL ANNOUNCES ANNUAL EARNINGS AND SALES
WCI STEEL ANNOUNCES THIRD QUARTER RESULTS
WCI STEEL REPORTS RECORD RESULTS FOR FOURTH QUARTER AND FISCAL YEAR
WCI STEEL REPORTS RECORD OPERATING INCOME PER TON OF $67 IN FIRST FISCAL QUARTER
WCI STEEL POSTS RECORD EARNINGS IN 2ND QUARTER; OPERATING INCOME PER TON OF $70 AN ALL-TIME HIGH
WCI STEEL REPORTS THIRD QUARTER EARNINGS
WCI STEEL REPORTS EARNINGS OF $15.5 MILLION FOR FISCAL 1995
WCI STEEL EARNS $6.2 MILLION IN SECOND QUARTER
WCI Steel Earns $8.1 Million in Third Quarter
WCI Steel Earns $28.0 Million in Fiscal 1996

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters