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(AMM) A.M. Castle sees better second half on improving sales

March 10, 2010 - 20:19 GMT Location: CHICAGO

KEYWORDS: A.M. Castle , specialty metals , distributor , processor

A.M. Castle & Co. executives expect the specialty metals distributor and processor to continue to report financial losses in the first half of 2010 but are eyeing a turnaround in the second half as daily sales rates steadily improve throughout the year.

The aerospace market will continue to be relatively weak this year as Boeing Co. and Airbus SAS are behind on their build schedules for the 787 Dreamliner and A380 commercial jets, respectively, A.M. Castle's president and chief executive officer Michael Goldberg said during the company's quarterly conference call.

Military aircraft build rates and subsequent metal orders should offset that trend somewhat, Goldberg said.

Franklin Park, Ill.-based Castle's outlook is more positive on the oil and gas sector and general industrial business, he said, particularly as the company sees an end...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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