Vesuvius retains FY 2014 position, despite softer foundry, steel, market
Published: Friday, 24 October 2014
Vesuvius has outlined the challenges it — and other refractories producers — are facing: bearish foundry markets and low capacity utilisation in steel. However, its belief in its strategic model and its high value products means it will likely retain its position as the leading refractories producer.
Vesuvius today said in an interim management statement that
its trading performance for the third quarter of this year has
been in line with expectations, despite some softening in
market conditions in certain regions.
The UK-headquartered company admitted that market conditions
in the global foundry industry "remain challenging," pointing