Austrian fireproof materials maker RHI said on 28 May that its 2001 net loss was EUR 856.4 million, less than the expected 870 million, mostly due to asbestos-related claims in the US.
The firm, whos…
Austrian fireproof materials maker RHI said on 28 May that its 2001 net loss was EUR 856.4 million, less than the expected 870 million, mostly due to asbestos-related claims in the US. The firm, whose US refractories subsidiaries filed for Chapter 11 bankruptcy protection earlier this year, posted a net profit of EUR 30.8 million in 2000. RHI reiterated that its first-quarter operating profits after deconsolidation of the US units rose to EUR 11.6 million, up from an unadjusted 10.2 million a year earlier.