IFGL’s Q2 profit cut in half due to Redcar steel plant closure

By Liz Gyekye
Published: Monday, 09 November 2015

The Indian refractories producer lost a lucrative customer last month when SSI’s steel plant based in northern England closed down. This closure has caused a dent in IFGL’s fiscal 2016 Q2 profits.

India-based global refractories supplier IFGL Refractories Ltd has posted a 51% decrease in profit for the quarter ended 30 September 2015 to Indian rupee (INR) 68.20m ($1.02m*), from INR 138.10m ($2.08m) the previous year, due to its customer, Sahaviriya Steel Industries Plc (SSI), closing its Redcar plant, based in Teeside, UK....

This is a preview of the full article

Our market news and price data is reserved for registered users only.

Current customer? Login now

All of our industrial minerals price data and news is now available only through our new platform. Learn more about the intelligence we offer by visiting our Fastmarkets flagship website. If you are familiar with our reliable and trusted intelligence, fill out a request a quote form today to hear from our friendly sales staff who will create a custom license for you.


           



Interested in lithium prices? We now offer lithium prices and coverage free for reference. Click here to read all about it.

Interested in the wider electrification market?
Join our growing community of participants who want to learn more about electrification and how this market is developing.