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ACME METALS CHAIRMAN AND CEO SEES PROFITABILITY DIFFICULT IN 1993'S THIRD QUARTER

 RIVERDALE, Ill., Sept. 27 /PRNewswire/ -- "After three consecutive profitable quarters, Acme Metals Incorporated (NASDAQ-NMS: ACME) will be hard-pressed to maintain profitability in 1993's third quarter," Chairman and Chief Executive Officer Brian W.H. Marsden commented today.
 "Going into the third quarter, we had told shareholders that the cost of planned maintenance shutdowns at our Acme Steel, Acme Packaging, and Universal Tool subsidiaries, coupled with seasonally lower shipments caused by summer shutdowns at customer plants, would depress results compared to 1993's second quarter," Marsden noted.
 "Unfortunately, our steel company's cost performance has not met targets during the quarter, and this has penalized financial results," the Acme chairman added.
 One problem was a recent unplanned, eight-day production outage at the Acme Steel Company's Primary Rolling Mill. The outage at the facility, which processes all of the subsidiary's steel, was caused by a generator failure.
 The Acme Metals Chairman did indicate that he expected results to still reflect a substantial improvement over 1992's third quarter, when Acme Metals reported a loss of $2.4 million, or 44 cents per common share. The third quarter 1992 loss, later restated to $2.6 million, or 49 cents per share, included a charge of $1.3 million, or 24 cents per share, to cover costs of a 10 percent reduction in the company's salaried work force.
 Acme Metals Incorporated, through its operating subsidiaries, is a fully integrated producer of steel, steel strapping and strapping tools, welded steel pipe and tube, and automotive and light truck jacks. Its common stock is traded on NASDAQ's National Market system with the symbol ACME.
 -0- 9/27/93
 /CONTACT: Charles A. Nekvasil, director of public and investor relations of Acme Metals Incorporated, 708-841-8383, ext. 2266/
 (ACME)


CO: Acme Metals Incorporated ST: Illinois IN: MNG SU: ERP

TS -- NY017 -- 5784 09/27/93 08:32 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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