Ampco-Pittsburgh (AP) Reports Q3 Loss of $1.88/Share
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Ampco-Pittsburgh Corporation Announces Third Quarter 2016 Results
November 1, 2016 9:27 AM EDTCARNEGIE, Pa.--(BUSINESS WIRE)-- Ampco-Pittsburgh Corporation (NYSE: AP) reported consolidated sales for the three and nine months ended September 30, 2016 of $82,861,000 and $239,740,000, respectively, compared to $58,094,000 and $183,154,000, respectively, for the three and nine months ended September 30, 2015. The current year periods include sales of $33,679,000 and $86,703,000 attributable to the March 3, 2016 acquisition of Ã…kers AB and certain of its affiliated companies (Ã…kers). The Corporation reported a loss from operations of $4,941,000 and $14,760,000 for the three and nine months ended September 30, 2016, respectively, compared to a loss from operations of $2,357,000 and $2,661,000 for the same periods of the prior year. The year-to-date operating loss... More
Åkers National Roll Issues WARN Notice at Avonmore Facility
October 31, 2016 5:05 PM EDTCARNEGIE, Pa.--(BUSINESS WIRE)-- Ampco-Pittsburgh Corporation (NYSE: AP) and Union Electric Steel Corporation (Union Electric Steel), a wholly owned operating subsidiary of Ampco-Pittsburgh, today announced that Ã…kers National Roll Company (the Company), issued a Worker Adjustment and Retraining Notification (WARN) Act notice to certain employees at the Companys Avonmore, Pennsylvania, facility, union officials, and government officials. The notice states that the Company, which is a subsidiary of Union Electric Steel, intends to temporarily idle certain operations at the facility as a result of continued challenging global market conditions.
The notice initiates... More
