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VietNamNews

Financial woes grip VN-Italy Steel Company

Update: October, 22/2013 - 11:00
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.— File Photo

HUNG YEN (VNS)  — 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. — VNS

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