Greece’s Sidenor posts six percent rise in 2010 turnover

In 2010, the turnover of Greece's largest steelmaker Sidenor Group (Sidenor) increased by six percent year on year to €993 million, while its net consolidated results after taxes amounted to losses of €29.9 million versus losses of €58.8 million in 2009. Sidenor's 2010 consolidated EBITDA significantly increased, indicating a profits of €50 million versus profits of €22.3 million in 2009, posting a 124.7 percent increase.
 
Accordingly, in 2011, Sidenor's key objectives focus on maintaining and increasing market shares, seeking new geographic markets and expanding into new products, while maintaining high productivity rates at its production plants.
 
Moreover, in 2011, the contribution of Sidenor's subsidiary Corinth Pipeworks is expected to be significant, since an increase in investment projects of energy companies is evident following increased demand for energy and the recovery of oil prices.