Vesuvius forecasts falling FY profits on weaker steel market

By William Clarke
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,...

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