Dofasco reports strong results for 2003
Canadian steel producer Dofasco has become the most profitable steel company in North America, according to 2003 year results. Dofasco reported a net income of $118.4 million in 2003 against $122.8 million recorded in 2002 and consolidated sales of Dofasco are recorded as $3.55 billion. Moreover, the shipments of the company reached to a record level of 4.833 million tons. When fourth quarter results of 2003 are examined, it is observed that company has obtained a net income of $2.6 million against the loss of $57 million recorded in the corresponding period of 2002. With these results, Dofasco has become the most profitable steel producer in North America. An official from Dofasco underlined that the company achieved these results despite rise in scrap prices and energy cost, and strong Canadian Dollar.