Vesuvius expects lower revenue in 2013 on weak steel market
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.
- Police hunt for motive as search for Malaysian jet spans hemispheres |
- Crimeans vote over 90 percent to quit Ukraine for Russia |
- Ukraine, Russia agree Crimea truce until March 21-Ukraine minister
- Malaysian PM says lost airliner was diverted deliberately |
- Democrats seek ways to limit Obamacare fallout after Florida defeat