Wheeling-Pittsburgh Steel posts profit

Manufacturing News, Source : TheManufacturer.com
Published : 09 Aug 2004 22:08

Steelmaker Wheeling-Pittsburgh Steel Corp. reported a second-quarter profit of $27.1 million due to rising steel prices, up from a $21.5 million loss during the same quarter a year ago.

The company reported net sales of $356.1 million, on shipments of 548,474 tons of steel products, compared to $250.5 million, on shipments of 567,642 tons, one year earlier.

Wheeling-Pittsburgh Steel emerged from Chapter 11 bankruptcy protection in August 2003. The company currently employs about 3,100 people at six plants in West Virginia, Ohio and Pennsylvania.

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