Steel Mills
October 29, 2016
Montpelier Outage Hurts SSAB Americas in Q3
Written by Sandy Williams
SSAB Americas, recorded a third quarter operating loss of SEK 73 million ($8.1 million) compared to a profit of SEK 162 million ($18 million) in Q2 2016. The loss was due mainly to the maintenance outage at Montpelier in the third quarter, higher variable costs, lower volumes and lower capacity utilization which was somewhat offset by higher prices. In comparison, profit in Q3 2015 was SEK 78 million ($8.7 million).
The maintenance outage at Montpelier resulted in direct charges of SEK 200 million ($22 million) in third quarter. SSAB Americas also booked a charge of SEK 209 million ($23 million) for settlement in an anti-trust lawsuit against several US steel producers.
