Stelco reports $42 million loss in Q3

Stelco reports $42 million loss in Q3

Canadian steelmaker Stelco Inc. has reported $42 million loss in the third quarter of 2003. Stelco expressed that the company has to take precautions against cost issues that threaten its business. The company has posted $6 million profit in the same quarter last year. However, the company stated that its third quarter loss was better than the $82 million loss recorded in the second quarter of 2003. Sales decreased to $650 million in the third quarter from $680 million reported in the corresponding period of 2002.