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Vesuvius blows on weak markets

Vesuvius blows on weak markets

Vesuvius (VSVS) attributed the 4.9 per cent decline in its revenue to a collapse in its two main end markets, steel and foundry. But the molten metal engineer managed to limit its profit decline through an acceleration of its restructuring programme, which yielded £16.4m in recurring savings. Vesuvius shut eight plants in 2019 without cutting its overall production capacity, although some delays in foundry and advanced restructuring projects will see £1.2m in benefits recovered in 2020 instead.

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