Archive for November 18th, 2008
Severstal freezes $8bn spending programme
Russia’s biggest steelmaker, is deferring indefinitely an ambitious $8bn investment programme in a further sign of how the downturn is forcing manufacturers to cut capital spending.
The company – which has expanded strongly particularly in the US in the past few years – on Tuesday said it was reducing its fourth-quarter earnings forecast and making further [...]
Posted: November 18th, 2008 under Steel International, Steel News.
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