SSAB Swedish Steel S.p.A., an Italian company based in Ghedi, Brescia which is 100 percent-controlled by Stockholm-headquartered SSAB Swedish Steel AB, has announced that it returned to profit in 2010.
In 2010, the steelmaker, which also operates a plant in Fontevivo, Parma, benefited from favorable market conditions which enabled production to recover strongly compared with 2009. The Ghedi cutting line worked consistently on two shifts for the entire year, unlike 2009.
The company's turnover in 2010 amounted to €79.212 million, up 39.3 percent year on year, while net profit grew to €1.022 million, compared with a loss of €1.841 million in 2009. Meanwhile, costs increased at a slower rate in 2010 than revenues, rising by 31.8 percent year on year.