Italian CAS posts increase in turnover

Italian stainless steel producer Cogne Acciai Speciali (CAS) disclosed that its consolidated turnover rose 14.5 percent year on year to Euro 515 million in 2005. However, the company's EBITDA dropped 40 percent due to increases in raw material costs by 22 percent, energy costs by 28 percent and labor costs by 8 percent. CAS previously stated that it would invest Euro 25 million during 2005 to 2007 in the Excellence Cogne 2008 project.