Lonato-based Italian steel rebar and wire rod producer Feralpi Siderurgica has recently issued its 2009 balance sheet.
Accordingly, last year the steel company posted losses of €35.91 million, compared to €67.22 million in net profits in 2008. Feralpi recorded a 30 percent decrease in output, while sales revenues stood at €691.89, down 56.1 percent year on year.
Despite the consequences of the global crisis, Feralpi has been continuing its investment plans, spending €54 million on technological updating, worker training and issues relating to safety and the environment. Additionally, in the next three years the company plans to invest another €50 million. "We still believe in the steel industry and we want Feralpi to continue to be a key player in this sector. Also, we are aware of the importance of non-stop training for our workers," stated Giuseppe Pasini, president of Feralpi Group.
In the first six months of the current year, the revenues of the steel producer were up 15 percent year on year, and "this makes us think that 2010 will be better than 2009," said Pasini.