Article Abstract:
Precoat International is a producer of pre-painted steel products which has reported an interim profit for 1999 at a time when some competitors are reporting losses. The company will be affected by the merger of Hoogovens and British Steel, which will create a new firm supplying Precoat with 85% of its steel needs, and Precoat is seeking to reduce this figure by locating other suppliers. The company is studying acquisitions in Austria and Germany. Precoat could achieve a profit of 3.2 million pounds sterling for 1999-2000.
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Article Abstract:
Precoat International is in a sector affected by concerns about the strength of pound sterling. The company supplies precoated steel which it buys, cuts to clients' requirements, and sells to them. The market for precoated steel is growing more rapidly than the economy as a whole as companies convert to precoated steel. Canada accounts for some 20% of revenues and is showing stronger growth than the UK. The company's profit is forecast at 3.6 million pounds sterling for 1997 to 1998.
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Article Abstract:
Precoat International supplies coated steel and has performed better than supplies of standard steel products. The company's stock price has been affected by a general fall for steel companies, but the market is growing, and the long-term prospects for Precoat International are good. The company is considering expanding in northern Europe, and has shelved expansion plans for South Africa due to difficult conditions affecting the domestic appliance industry in that country.
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