Macedonia's steel mill ArcelorMittal CRM boosts Q1 2011 sales by 6.7% y/y.

By bne IntelliNews June 14, 2011
The sales revenues of Macedonian steel producer ArcelorMittal CRM have increased by 6.7% y/y to MKD 1.47bn (EUR 23.9mn) in Q1, according to income statement published on the website of the country's Securities and Exchange Commission. Exports accounted for 86.5% of total sales. The company's operating loss has widened by 28.5% y/y to MKD 96.5mn in Q1. On the other hand, the steel producer's pre-tax loss has narrowed by 25.5% y/y to MKD 125.6mn in the first quarter of this year. Skopje-based ArcelorMittal CRM (formerly RZ Ladna Valavnica) produces cold-rolled steel, galvanized coils and sheets. ArcelorMittal Group's other unit in Macedonia is the hot-rolled steel sheet producer ArcelorMittal HRM.

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