Losses Improve At Amcast

Third quarter results from Amcast show the company improving on its position in the previous year. For the previous fiscal year to date sales were similar to this year’s and produced a loss of 25.9 million dollars.

This fiscal year to date sales ran to 423.6 million dollars producing a loss of 12 million dollars. Compared to the previous year to date nine out of the company’s eleven operating divisions were showing a profit this year, as against five out of eleven last year.

Star of the turnaround is North American Wheels which has shown a six-fold operating income on a sales increase of 24 per cent. The company debt at the start of the year has been reduced by 13.3 million dollars to 185.