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Impairment on steel unit, still sees challenges in steel market - Hadeed-The 19th China (Guangzhou ) Int’l Casting product Exhibition
1/31/2018 casting expo-Die-casting expo-foundry expo |
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Zawya reported that Saudi Basic Industries Corp took a 350 million riyals (USD 93.34 million) impairment on its steel unit, Hadeed, in the fourth quarter and still sees challenges in the steel market.
SABIC CEO Yousef al-Benyan told a news conference that he was optimistic about the outlook for 2018, as an increase in oil prices reflect positively on petrochemical prices. Mr Benyan also said the company can self-finance the acquisition of a nearly 25 percent stake in Clariant , which was announced last week.
SABIC, the world''s fourth-biggest petrochemicals company, reported an 18.6% drop in fourth-quarter net profit on Sunday, citing lower output and sales.
-The 19th China (Guangzhou ) Int’l
Casting product Exhibition
-Casting product Exhibition, 2018 casting
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2018 Casting Expo,
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