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Otto offsprings 3 quarters loss decreases general to 7, 4 million euro
From;    Author:Stand originally

Because nickel price drops to the lowest inside 5 years, 3 quarterly losses of company of elder brother general cut down Otto compared to the same period 2/3 comes 7, 4 million euro, business income is added compared to the same period to 1.27 billion euro.

Integrated media will report on October 27, finnish metal group Otto offsprings general company (Outokumpu Oyj) express, 3 quarterly losses of company by 2007 the 214 million euro of the corresponding period, cut down 2/3 to 7, 4 million euro, main reason is nickel price drops. Additional, 3 quarters business income by the 1.22 billion euro of the corresponding period increased to 1.27 billion euro 2007.

Elder brother general Mr CEO Juha Rantanen weighs Otto, the price of nickel of company raw material reachs the minimum inside 5 years, this makes company management cost is reduced, raise what cash flows to run thereby, raw material low cost makes stainless steel makes the raw material that provides appeal and competition ability more.

But he describes economic environment extremely instability, admonitory nickel price drops to sell bisect business profit to form short-term and adverse effect, the price that because cent sells business,expects the move is smaller and defer buy stainless steel.

Elder brother general still expresses Otto hasten of stainless steel price is firm, predict current shipment capacity will maintain the level in 3 quarters.