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
- Kuttner do Brasil and Kuttner No Bake Solutions bring the most advanced foundry equipment technologies to Metalurgia2025
- Metallurgy concentrates suppliers of inputs for diversified applications in the industry
- UK - Vesuvius Plc - Acquisition of the Molten Metal Systems business from Morgan Advanced Materials Plc
- Metallurgy Congress will have Technical Program focused on Process Improvement and use of AI
- Brazil launches WTO case over Trump’s tariffs
- Metallurgy brings together Innovations in Industrial Heating and Induction Systems
- Aluminium: The Lightweight Powerhouse Driving Formula One Innovation
- US tariffs to have 'minimal' impact on Brazilian steel
- See all News
