Canadian Co-Steel declares loss for the quarter

Canadian Co-Steel declares loss for the quarter

Co-Steel, the Canadian Steel maker, reported yesterday a loss of C$ 4.2 million for the quarter after a C$9.1 write off due to the bankruptcy filing of its 30% owned subsidiary ASW in the U.K. The Co-steel share of Gallatin's EBITDA (earnings before interest, taxes, depreciation and amortization) was US$10.8-million, up from $3.1-million last year.