Steel producer looks for silver lining.
| Position | AROUND THE NORTH - Brief Article |
Algoma Steel Inc. posted $89.1 million profit for its first quarter, a drop from the $122 million posted in the fourth quarter of 2004, but significantly higher than the $22.1 million earned in Q1 of 2004.
The company says high raw material costs, energy, pension and post-employment expenses factored into the decline. Lower earnings are expected in the second quarter due to higher iron ore costs and declining steel prices.
The announcement comes on...
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