Salzgitter may post loss in 2009-CEO in paper
FRANKFURT, June 27 (Reuters) - German steel maker Salzgitter (SZGG.DE: Quote, Profile, Research) will have a hard time breaking even this year after incurring a loss in the second quarter, Chief Executive Wolfgang Leese told a German newspaper.
"I believe we will rather be slightly below (breakeven)", Leese told Euro am Sonntag in an interview provided to Reuters before publication on Sunday.
Salzgitter, the second-largest German steel company after ThyssenKrupp (TKAG.DE: Quote, Profile, Research), had previously forecast breakeven at a pre-tax level this year if markets recover in the second half.
A recovery in orders since May would allow Salzgitter to reduce the number of workers on a government-subsidised shortened working hour scheme, he added.
Business should improve somewhat in 2010 with capacity utilisation likely to rise to 80 percent, Leese said, adding he was still unable to say how long the slump would last. (Reporting by Ludwig Burger; editing by Sue Thomas)
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