Steel fabricator Canam Manac posts $5.2M Q3 profit; reverses year-ago loss

Yahoo! News: “The Canam Manac Group, maker of steel construction products, announced Monday a $5.2-million profit for the third quarter, reversing a year-earlier loss, thanks to higher steel sales and prices, and reduced costs after two years of restructuring.

‘The work we have done in the past two years is starting to pay off,’ said Marcel Dutil, chairman and chief executive officer, in a conference call. ‘I think the bad times are behind us and we can see a bright future for the whole company.’

Dutil added that the company has restructured itself and cut costs so that even if the economy did not grow as expected, it would continue to be profitable. “

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