Stakhanov Ferroalloy (SFER) Shows Losses Of USD 5.6 Mn In 2004
6 June 2008
The company’s sales grew 41.2% last year to USD 60.9 mn. SFER’s management said its losses were due to downtime at the company in September 2003 to March 2004. In January – April 2005, SFER produced 77.2K mt of ferroalloy, 167% up yoy (the company did not operate in January – March 2004). Concorde Capital: We attribute SFER’s reported losses to transfer pricing, as the company purchased manganese ore from affiliated companies.
