Brazil's Usiminas posts bigger-than-expected quarterly loss

SAO PAULO Mon Feb 18, 2013 4:44pm EST

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SAO PAULO Feb 18 (Reuters) - Usinas Siderúrgicas de Minas Gerais SA, Brazil's largest producer of flat steel products, posted a net loss of 283 million reais ($144 million) in the fourth quarter, the company said on Monday.

Usiminas, as the company is known, was expected to post a shortfall of 114 million reais in the quarter, according to the average estimate of seven analysts in a Thomson Reuters poll.