Usiminas declares loss for first half 2002
Usiminas reported a net loss of $84mn for the first six months due to FOREX losses in its subsidiary Cosipa which caused the latter to have a negative contribution of $93 million to the parent company. Usiminas exports raised by 32% this year to 432.000tons. The company increased slab exports from 63.000tons to 252.000tons for the same period this year. Usiminas expects to produce its maximum capacity of 4million tons.