Magnesita’s Q3 loss increases almost 50-fold due to write-offs
Published: Friday, 13 November 2015
Despite posting an increase in net operating revenues, the Brazilian refractories producer has reported a significant loss for the third quarter of 2015 as a result of exceptional events in the company’s Brazilian, European and Chinese operations.
Brazil-based Magnesita Refratarios saw its
losses widen 48-fold to Brazilian real (R$) 902.5m ($236.29m*)
for the third quarter of 2015, compared to R$18.3m ($4.79m) the
previous year, due to write offs in its struggling Chinese and
In a statement, the company said that...