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Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation Announces 2008 Earnings
February 28th, 2009
Ampco-Pittsburgh Corporation (NYSE:AP) announced earnings for the year and fourth quarter ended December 31, 2008. The earnings include an increased charge without which the Corporation would have achieved record results. The charge by its Air and Liquid Processing group covers estimated costs of asbestos litigation over the next ten years through 2018 and relates to product manufactured decades ago. The principal business of the Corporation, the Forged and Cast Rolls group, achieved record sales and income from operations for the year and fourth quarter despite slowing production towards year end. The slowdown was the result of a reduction in demand for rolls from...
Source: Law & Health Weekly (2009-02-28)
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