News
USA - NEENAH FOUNDRY POSTS LOSS
Issued at 2023-12-26
Tweet
Neenah Enterprises Inc. and Neenah Foundry Co., the company that manufactures manhole covers and other iron castings and steel forgings for municipal and industrial markets, posted a net loss of $13.3 million in the fiscal third quarter.
Results for the quarter ended June 30 compared with net income of $2.4 million in the same period a year ago. Net sales for the quarter dropped 53 percent to $72.4 million. Overall volumes fell 53 percent as well as measured in tons sold, the Neenah-based company said.
Neenah Foundry said the net loss includes restructuring costs and asset writedowns of $5.1 million related to the previously announced closures of the company's facilities in Kendallville, Ind., and El Monte, Calif.
Tweet
Related News
- METAL CHINA/DIECASTING/NONFERROUS CHINA 2025 Concluded with a Big Success
- Geologists Reveal World’s Biggest Iron Deposit Worth $6 Trillion Set to Impact Global Economy
- Integrating On-Demand Manufacturing into Modern Supply Chain Strategies
- From Art to Automation: The Evolution of Pattern-Making in Foundries
- Germany reduced steel production by 10.1% y/y in April
- How Russian steel exports have changed in the face of sanctions
- Italian Foundries: No Signs of Recovery Yet in Early 2025
- Brazil seeks negotiation over US steel tariffs instead of retaliation
- See all News
