Italian rebar producer IRO posts improved results for 2010

In 2010, Odolo, Italy-based rebar producer Industrie Riunite Odolesi (IRO) registered a net loss of €3.67 million, while in the previous year the company saw a net loss of €14.08 million.
 
Last year, IRO's turnover reached €165.64 million, with an increase of more than 50 percent compared to 2009. However, production costs also rose to €169.58 million from €122.38 million in 2009, mainly due to the sharp increase in raw material prices.
 
In the early months of 2011 IRO's sales revenue has shown an increase on year-on-year basis, and this is seen as a good sign for the company's performance in the coming period.