10
Aug
20:34
TimkenSteel further reduces capex following Q2 loss
Following a second-quarter loss of $15.3 million on sales of $154m, US specialty steel producer TimkenSteel has reduced its capital expenditures for the remainder of the year, Kallanish reports.
In the company's Q2 earnings conference last week, TimkenSteel revealed that it has further cut capex to $15-20m for 2020. This spending will be used to complete a value-added components expansion to the company's facility in Eaton, Ohio, as well as cover operation…
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Anonymous
Very good overview of the weekly steel market.
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