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Financial woes grip VN-Italy Steel Company

Oct 22nd at 13:21
22-10-2013 13:21:29+07:00

Financial woes grip VN-Italy Steel Company

Viet Nam-Italy Steel Company (VIS) posted a loss of VND36 billion (US$1.7 million) in the third quarter and an accumulated loss of over VND10 billion ($471,690) in the first nine months of this year.

 

During the first nine months of last year, the steelmaker still make profits of nearly VND10 billion. The reasons for the losses are the declining construction steel price and higher inventories.

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