Salzgitter to Post Higher 2011 Net Income After Consolidation
Salzgitter AG, the German steelmaker, said its 2011 profit after tax will be about 100 million euros ($135 million) higher after it combined its domestic holdings into a single unit for tax purposes.
The company’s forecast of about 200 million euros in fiscal 2011 pretax profit will be unchanged, it said in a statement issued today on PR Newswire. Salzgitter said the overhaul won’t involve changes in the company’s management.
To contact the reporter on this story: Patrick Donahue in New York at firstname.lastname@example.org
To contact the editor responsible for this story: James Hertling at email@example.com