Argentinean longs producer recovers loss via export sales
The increased level of exports in 2002 helped the Argentinean long products steel maker Acindar to recover its loss by 8.7% over the 2001 results. Consequently, the company reduced its loss down to Pesos 316.2 million (approximately $102.5 million) in the year 2002. The balances of the foreign sales versus domestic sales changed, however, the overall sales remained steady, at a 1 million tons level. The foreign sales rose by 27% and domestic sales fell by 12.5%. Furthermore, the company's negative net worth fell to Pesos 29 million by the end of 2002, compared to a figure of Pesos 252 million recorded at the end of the first quarter of 2002.