Deloitte issues global metals report

A new report by Deloitte Touche Tohmatsu, a global consulting and financial advisor, called Turning the corner: Global metals outlook, argues that radical cost restructuring is vital to industry recovery and, as a result, leaner businesses will emerge. The report offers opinions on the impact of the economic downturn on the global metals industry and what to expect down the road. “It is almost as if you can’t find customers anymore-they have become phantoms,” commented Nicholas Sowar, Global Steel Leader with Deloitte’s Global Manufacturing Industry Group. “It’s not surprising that so many companies are taking thousands of people out of their global workforce and being forced to restructure and divest some non-core assets.” (more…)

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