February 6, 2020 / 6:44 AM / 16 days ago

Specialty steelmaker Voestalpine posts nine-month loss

VIENNA, Feb 6 (Reuters) - Austrian speciality steelmaker Voestalpine on Thursday posted a loss for the first nine months of the business year due to internal issues, a weak auto sector and oversupply in Europe’s steel industry.

Voestalpine, which produces flat steel products for the automotive, energy and railway industries, reported a loss of 160 million euros ($176 million) for the nine months through December after a profit of 281.3 million euros in the same period the previous year.

“The economic and financial fallout from the coronavirus epidemic in China, where Voestalpine operates nine local manufacturing companies, is not foreseeable at this time,” the company said in a statement. ($1 = 0.9094 euros) (Reporting by Kirsti Knolle Editing by Michelle Martin)

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