01.05.2009 4:27 pm
Sluggish prices prompt Doe Run to cut output
St. Louis Post-Dispatch
Doe Run Co. will reduce planned lead-mine output by 17 percent in 2009 because of a soft economy that’s eroding demand and prices for the metal.
The St. Louis-based company plans to produce 5 million tons this year from its mines instead of a planned 6 million tons, Jerry Pyatt, Doe Run’s chief operating officer and vice president of domestic operations said Monday afternoon in a statement.
“The current economic turmoil is forcing companies around the world to take steps to enable them to continue to operate profitably,” Pyatt said in the statement. “We will monitor the market and make necessary adjustments in our operations as factors warrant.”
WOOHOO Media you did it! All of your negative talk about how bad the economy and housing market is for the last TWO years has finally SCREWED the economy big time! YaY you did it!!!! WOOT WOOT
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