Vesuvius expects lower revenue in 2013 on weak steel market

March 21 Thu Mar 21, 2013 3:33am EDT

March 21 (Reuters) - Vesuvius Plc, which makes ceramic moulds and linings for steelmakers and foundries, expects lower revenue in 2013 and said it had undertaken cost-saving measures including job cuts.

The company said it also expected to dispose of its precious metals processing business to focus on the steel and foundry markets, which would help margins towards the end of 2013.

The company reported a 29 percent fall in its profit in 2012, hurt by significantly weaker steel and foundry trading environment in the second half.

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