Vesuvius forecasts falling FY profits on weaker steel market
Published: Tuesday, 15 October 2019
Demand for refractory and foundry equipment in Europe is sagging due to a "challenging market environment" in steel, Vesuvius says.
Foundry and refectory company Vesuvius
forecast a drop in its profits in 2019, citing weakening
demand from the steel-making and metallurgical sectors.
Vesuvius now expects its full-year trading profit to be
£180-190 million ($227-234 million), it warned in a
trading update on October 14,...