Acciaierie Bertoli Safau set to double sales revenue in FY 2010-11
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Carla de Colle, chairperson of Italian special steel producer Acciaierie Bertoli Safau (ABS), subsidiary of Danieli Group, has announced the financial results of ABS for the first nine months of FY 2010-11 (ending June 31).
In the given period, Acciaierie Bertoli Safau's sales revenues amounted to €590.4 million, up 121 percent year on year, while its net profit reached €11 million, from a loss in the same period last year. According to its forecast, the company will achieve sales revenues of €800 million in FY 2010-11, with one million mt of crude steel production. Half of the company's total steel product output in the current financial year is expected to be sold in Germany, France and Spain.
Acciaierie Bertoli Safau stated that to date in FY 2010-11 it has already disbursed €37.5 million in three directions: product quality, work safety and quality, and environmental quality. Meanwhile, ABS also announced the creation of a research and development centre in Metz, France. Moreover, the upgrade of the company's state-of-the-art continuous caster will start in August, with the installation of equipment to enhance product quality and operational efficiency. In the same month, the degassing plant will also be revamped.
As stated by Carla de Colle, "Although output is still 15 percent below 2007/2008 levels, there is a recovery. The global crisis has in a sense been healthy for the European steel industry, as the sector needed to face its critical issues. As usual, after a crisis the challenges are more difficult: competition has improved, innovation and quality are essential."
Acciaierie Bertoli Safau is a leading European special steel producer, targeting the automotive, manufacturing, energy and oil industries. It operates a continuous caster producing billet up to 750 mm in diameter, and a rolling mill which holds the European record for round bar diameter (405 mm).