Yahoo! News – Steel company ADF ready for return to profitability, says CEO: “Company president Jean Paschini predicted a turnaround following the sale of two plants, cuts to administration costs and hundreds of layoffs. ‘There aren’t many people who would have been able to do what we have done in the last year, year and a half,’ Paschini told ADF’s annual shareholders’ meeting.
Our game plan is to. . .concentrate on profitability.’
The designer and supplier of complex steel superstructures lost $59 million last year amid a turbulent non-residential construction market in the United States.
The company near Montreal recently struck deals with long-term lenders that followed two other agreements reached with a banking syndicate and the debtor of a temporary loan. “
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