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(AMM) Distributor A.M. Castle sees 2d-half return to profit

April 27, 2010 - 23:17 GMT Location: CHICAGO

KEYWORDS: A.M. Castle , Michael Goldberg

A.M. Castle & Co.'s top executive expects the company to return to profitability in the second half of 2010, with metals prices forecast to continue rising at least through the first half of the year.

This rebound to positive results?following two years and one quarter of losses?is held up by the fact that activity levels among various end-market customer groups lag the general economy, as has Castle's ability to pass along mill metals price increases, Michael Goldberg, president and chief executive officer, said Tuesday during the company's quarterly conference call.

Business activity in the first quarter was "stronger than anticipated," he said. In addition, "customers are more optimistic," but they continue to buy material to finish...

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

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